We show you our most important and recent visitors news details Distinct Saudization programs for Saudi Aramco approved in the following article
Hind Al Soulia - Riyadh - Saudi Gazette report
RIYADH — The Ministry of Energy, representing the government of Saudi Arabia, and Saudi Aramco have approved an agreement under which Aramco will employ in all jobs citizens who have the necessary qualifications, knowledge and experience, and the company is committed to implement distinct programs to recruit and train national human resources.
Even though the company’s aim is to employ the largest possible number of citizens, the agreement allows the company to continue employing qualified non-Saudis in jobs that have the necessary qualifications to fill them in view of their ability to compete and innovate in the event that these jobs cannot be filled with citizens.
The agreement granted Saudi Aramco the exclusive right to discover, drill and explore hydrocarbon materials, as well as to evaluate, develop, extract, and produce them in the concession zones, in addition to the right to market and distribute hydrocarbons, petroleum products and liquid petroleum gas in the Kingdom, with the fulfilling the company’s commitment to provide all the needs of these products in the local market.
The agreement also gives Aramco the non-exclusive right to manufacturing, refining and processing products for marketing, transporting, exporting and selling.
Saudi Aramco will provide insurance coverage, as it deems appropriate for its assets that meet the requirements of global industry standards and the governing law. The company is entitled to appoint insurance companies from those associated with it, whether they are insurance companies or reinsurance companies or both.
Under the agreement, the government is obligated to give the company reasonable assistance so as to enable it to carry out its operations, as well as to obtain rights upon the company’s request within the limits permitted by the applicable law such as the expropriation in accordance with the law of expropriation of real estate for the public benefit and the temporary seizure of the property.
The company will be obligated to buy, rent or work to obtain in any way all materials, equipment and supplies required to secure all technical assistance and all funds necessary to implement its obligations, and to maintain property and equipment used in the company’s operations in good condition.
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