Saudi Aramco
Saudi Aramco is the national company saudienne of hydrocarbons (its name is the contraction of Arabian American Oil Company). It has to it quasi entirety of the hydrocarbon resources of the kingdom and, from the point of view of its reserves like that of its production, it is the first world oil company by far. Its seat is with Dhahran, in the east of the country. The center of its principal oil layer is Abqayq.
History
The history of Saudi Aramco begins on May 29th 1933, when the Saoudi government off signs an agreement of concession with Standard Oil California (Socal) allowing him to make oil prospections in Saudi Arabia. Standard Oil off California transmits this concession to one of its subsidiary company called California-Arabian Standard Oil. In 1936, not having obtained any success, the Texas Oil Company buys 50% of the concession. After four long years of unfruitful research, the company discovers a first layer with Dhahran in 1938, the well is named “Dammam number 7”. The name of the company changes into 1944 and becomes Arabian American Oil Company (or Aramco). In 1948, Standard Oil off California and Texas Oil Company accommodates a new partner. Standard Oil off New Jersey takes 30% of Aramco, and Socony Vacuum acquires 10% of them, thus leaving a share equal of 30% to Standard Oil off California and Texas Oil Company. In 1973 the Saoudi government acquires a share of 25% in Aramco, to increase it to 60% in 1974 and finally to take of it full control in 1980. In November 1988, the company changes its name Arabian American Oil Company into Saudi Arabian Oil Company (or Saudi Aramco). It is currently occupied to build the Université of Sciences and Technology of the King Abdallah
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