While improving the overall crude oil supply capacity and transportation flexibility, we began to supply high-value ultra-light crude oil. Saudi Aramco's oil industry is based on successful exploration. The company's great advantage lies in its huge oil reserves and very low production costs. At the request of the government, the company started the national exploration plan on 1986, and the exploration scope was continuously expanded. By 1995, the newly discovered 17 oil and gas field, ultra-light and low-sulfur crude oil meeting the world's highest standards was found in central Arabia and put into production. At the same time, in order to ensure that the company can provide customers with crude oil that meets seasonal demand and grade requirements through oil transmission stations on both sides of the kingdom before the end of this century, the company has implemented a series of oil and gas projects in eastern provinces and central Arabia since 1989. The east-west crude oil pipeline system and the large-scale expansion project of Yanbu crude oil export transfer station have restored the maximum sustainable crude oil production capacity to 500 million tons/year. So far, the company has no plans to engage in oil exploration and development abroad.
2. Vertical integration of domestic oil refining industry. Foreign countries strengthen investment cooperation with other companies. 1the M/l royal decree issued by the kingdom of Saudi Arabia in 1993 centralized the domestic oil refining industry under the management of Saudi Aramco, greatly expanding the scope of the company's responsibilities, and making the oil refining industry of the whole kingdom under the overall planning, which is more in line with the long-term needs of the kingdom's oil refining and product distribution. It not only consolidated its position in China, but also greatly strengthened its position in the world oil market, making it one of the companies. At the same time, Saudi Aramco took this opportunity to actively establish downstream alliances with foreign partners. It was originally established by 1988 together with Texaco Company, and was responsible for oil refining and oil product sales in the United States. Since then, it has established joint ventures in refining and marketing cooperation with the Philippines, Greece, South Korea and other countries, and also agreed to establish tripartite joint ventures with Texaco Oil Company and Shell Company. In addition, the company is actively negotiating joint ventures with India and China. The above cooperation has opened a new door for May Company, enabling the company to continue to forge ahead and expand its global business.
3. Actively introduce advanced technology to improve work efficiency and resource utilization. 1982, the exploration and petroleum engineering center of Saudi Arabian Oil Company was put into use. This center is one of the largest and most advanced earth science facilities in the world, and it is second to none in the Middle East. The close cooperation with the center and the establishment of related laboratories and R&D centers make Saudi Aramco basically independent of the upstream (exploration and exploitation) technical support of other oil companies. The center can process and analyze the digitized data of two-dimensional seismic exploration; 199 1 Introduce horizontal drilling technology; Its computer center has a huge computer network and adopts the latest technology, hardware and application software, which can process and analyze all seismic exploration drilling data, so that the company can make more effective use of its resources. Saudi Aramco believes that with further exploration, it can maintain its position as the lowest cost producer in the world with its technical and operational advantages.
4. Pay attention to personnel training and human resources development. In the early days of the founding of the People's Republic of China, Saudi Aramco realized that the key to continuous progress was to have a well-educated and trained labor force capable of taking on heavy responsibilities. Over the years, the company has designed a wide range of training programs, from pedestrian training to advanced management programs for professionals with degrees, to meet the needs of each employee, improve their work skills, keep employees up with the development of new technologies, and cultivate world-class experts. Today, Saudi Arabia has more than 2,000 full-time teachers, trainers and support staff. During the period of 1995, about 8,000 Saudi Arabian employees attended full-time or part-time vocational and academic training, and about 7,000 employees attended management training courses. This strategy of Saudi Aramco has achieved great results. Over the past few years, Saudi employees have held almost all management positions in the company, and they have also undertaken all the operations of the entire production facility.