Saudi Aramco will pursue growth using nonmetllaic material in alignment with its growth strategy for the oil and gas sector as well as automotive, building & construction, packaging and renewable sectors.
According to Abdullah Al-Baiz, Saudi Aramco’s Vice President of Engineering Services, in line with Saudi Vision 2030 to advance the kingdom’s economy ranking to be among the top 15, one of Saudi Aramco’s focus areas in its long term strategy is the use of nonmetallic materials.
“It represents a great opportunity to increase global crude demand. Our goal is to lead the non-metallic materials business globally,” he said in his keynote speech at the 17th Middle East Corrosion Conference and Exhibition in Bahrain. This year’s conference, which celebrates its 40th anniversary, carries the theme “Non-Metallic -Towards Proactive Corrosion Management.”
Abdullah pointed out that to achieve this target, Saudi Aramco intends to increase demand on oil, increase revenue, minimize life cycle cost, localise manufacturing and reduce the company's carbon footprint.
“We will achieve our target by being active in the following four areas: maximizing deployment; promoting research and development; supporting localisation through our flagship In-Kingdom Total Value Add (IKTVA) initiative; and finally by investing in relevant companies in all stages of maturity,” he said.
In his speech, Abdullah also noted the potential for non-metallic materials in other sectors including the automotive sector; building and construction sector; packaging sector; and renewables. “In renewables, we envision the replacement of glass in solar panels by Polycarbonate for its light weight, impact resistance, and low thermal conductivity,” he said.