Pradhan inaugurates Saudi Aramco’s India office

Speed Post News Network

New Delhi : Minister of Petroleum and Natural Gas, Skill Development & Entrepreneurship Dharmendra Pradhan on October 8, 2017, inaugurated Saudi Aramco’s ARAMCO Asia India (AAI) office at Gurugram jointly with Amin H Al-Nasser, President and CEO of Saudi Aramco. The office is located at Two Horizon Tower, Gurugram, Haryana.

Saudi Aramco through its subsidiary ARAMCO Asia India (AAI) established its formal business presence in India in 2016. AAI would now formally engage in crude oil and LPG marketing, engineering & technical services, and other business development activities.

Speaking on the occasion, Pradhan mentioned that India is one of the biggest markets for Saudi oil and LPG. He said that he was delighted to jointly inaugurate the Saudi Aramco’s Office in India which will help in strengthening the existing buyer – supplier relationship between the two sides to a strategic partnership in the hydrocarbon sector, according to a PIB release.

ARAMCO India is planning to expand its operation by introducing hydrocarbon sector services functions including engineering services, IT operations & security and also R&D centre in near future. Saudi Aramco intends to partner with Indian companies and set up integrated business ventures in the hydrocarbon value chain in India and boost “Make in India” activities.

Saudi Arabia is the second largest supplier of crude to India after Iraq and it accounts for about 19% of our crude oil imports and also 29% of LPG imports. During 2016-17, India imported about 39.5 MMT of crude from Saudi Arabia.