Arabic: ārāmkū 'as-sa¢ūdiyya
Saudi Arabian oil and gas producing company. Saudi Aramco is the largest oil producing company in the world, and controls the largest proven crude oil reserves in the world.
Saudi Aramco has its headquarters in Dhahran, has about 52,500 employees, of which 87% are Saudi nationals.
Saudi Aramco produced 3.15 billion barrels of crude oil in 2004, of which 2.5 billion barrels were exported. The production of natural gas liquids (NGL) was 274 million barrels in 2004. Saudi Aramco controls about a quarter of known crude oil reserves, with 259.7 billion barrels as of 2004, which with the present production rate would last for about 80 years. Saudi Aramco also has the second largest fleet of
Saudi Aramco's operations covers about two thirds of the total territory of Saudi Arabia, with 1.5 million km² including territorial waters in the Persian Gulf and the Red Sea. The most productive fields arealong the coast of the Persian Gulf, plus the Ghawar field stretching out into the desert of Rub al-Khali, which is the largest oil field in the world.
1932: Oil is discovered in Bahrain, which makes the Standard Oil of California (Socal; today's Chevron) enter negotiations with the king of Saudi Arabia, Ibn Saud.
1933: The king of Saudi Arabia grants a oil concession to the California Arabian Standard Oil Company (Casoc), which was an affiliate of Socal. Oil prospecting begins on the east coast.
1936: While no oil reserves reported found, the Texas Oil Company purchases a 50 % stake of the concession.
1938: Oil is discovered at Dhahran, and crude is exported to facilities in Bahrain.
1944: Casoc changes its name to Arabian American Oil Company, Aramco.
1945: The oil refinery in Ras Tanura opens.
1950: An oil pipe line to Lebanon is completed.
1951: Discovery of the Safaniya oil field, the world's largest offshore.
1973: The government of Saudi Arabia acquires a 25% participation interest in Aramco.
1973: The government of Saudi Arabia acquires a 60% participation interest in Aramco.
1980: Saudi Government acquires 100% participation interest in Aramco.
1988: Aramco is transformed into the Saudi Arabian Oil Company, or Saudi Aramco.
1989: Oil and gas is discovered in a field south of Riyadh.
1993: Saudi Aramco gets sole control over domestic refining, marketing, distribution and joint-venture refining interests.
1999: The Shaybah field in the Rub al-Khali desert is opened.