India: Saudi Aramco Opens Office
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Sunday, 31 January 2010 |
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The new Aramco Overseas Company office will focus on companies involved
in manufacturing and contracting material for Saudi Aramco, creating
significant opportunities for Indian businesses, Saudi Ambassador Mr
Faisal Hassan Ahmed Trad told media.
This comes at a time when energy sector engagements between India
and Saudi Arabia are on the rise, with Saudi crude exports to India
jumping from just around $500 million in 2006 to $23.5 billion in
2008. “Prior to 2006, we hardly had any energy export to India.
But by 2008, we became the number one source of crude oil for India,”
Mr Trad said.
He said discussions are underway for joint investments by Indian and
Saudi Arabian companies in energy sector. He also said Prime Minister
Dr Manmohan Singh is expected to undertake a visit to Saudi Arabia next
month or in early March, during which the two countries will sign nine
pacts.
PetrolWorld India 300110
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