In a bid to simplify the procurement process, Saudi Aramco has embarked on an ambitious program of determining best business practices and commercial terms with all its key suppliers. The agreement with Sulzer is the first, and additional agreements with other companies are expected in the coming months.
The agreement covers the supply of products, system solutions, and services from all Sulzer divisions to Saudi Aramco for a 10-year period.
Sulzer and Aramco have a long standing business relationship, and both companies feel that by moving to this higher level of cooperation greater efficiency gains may be achieved.
This is of particular importance as Saudi Aramco continues its high level of capital investment in both upstream and downstream projects in the oil and gas market.
Sulzer is looking forward to using the agreement as a future trading platform with Saudi Aramco and its partners.
Owned by the Saudi Arabian Government, Saudi Aramco is a fully-integrated, global petroleum enterprise, and a world leader in exploration and producing, refining, distribution, shipping and marketing. The company manages proven reserves of 260 billion barrels of oil and manages the fourth-largest gas reserves in the world.
In addition to its headquarters in Saudi Arabia’s Eastern Province city of Dhahran, Saudi Aramco, through its affiliates, has joint ventures and subsidiary offices in China, Japan, Netherlands, the Republic of Korea, Malaysia, Singapore, the United Arab Emirates, the United Kingdom and the United States. More information about Saudi Aramco can be found at www.saudiaramco.com.