Aramco’s Local Content Opportunities: Shipbuilding and Oil’s Value

Today, Aramco is the largest charterer of ships in the world, meaning Aramco has an opportunity if it develops local content for shipbuilding, which it began a few years ago in shipbuilding.

Shipbuilding at Aramco will become one of the largest industrial companies in the field of ships. This applies to pipes, wires, various parts, and so on. If Aramco shifts part of its demand to local content, Aramco’s goal today is for 70% of its capital expenditure to be related to local content, part of it supplied

by Aramco subsidiaries, and part by various Saudi companies.

Even in the oil sector, the point I’m trying to make is that the opportunities in it are enormous opportunities that could bring about radical change without us doing anything.

Meaning, maximizing this barrel, not just exporting it, but turning it into industries it can be turned into.

Right, but the point I want to make is that we don’t dispense with the oil sector, we want We increase our gains from the oil sector, from processing industries to the very end, and we also work on other opportunities outside the oil sector to grow our economy and increase the size of our economy.