Saudi Aramco expands presence in India
“We are here to meet India’s future energy demands by offering a strong relationship involving secure and reliable supply of energy feedstock to fuel India’s dynamic growth,” said Nasser.
“And India has the necessary human capital and expertise that can help us grow from strength to strength.”He added that high volume of new business opportunities awaits to be unlocked from potential synergy between Saudi Aramco and Indian entities with Aramco Asia India providing the vital strategic link between the company’s headquarters in Dhahran and New Delhi. It also demonstrates Saudi Aramco’s readiness to play a role in India’s economic growth and development which is expected to be the fastest in the next decade, on top of the company’s existing role as a leading oil supplier to India for many years. “As reliable suppliers of oil and LPG for decades we are committed to providing those additional supplies that India will need,” he said. The New Delhi office will assume major roles in attracting more Indian manufacturers and investors to participate in the company’s In-Kingdom Total Value Addition, or IKTVA program. It will also strive towards qualifying more vendors in commodities which Saudi Aramco requires for its projects and operations as well as strengthening R&D collaboration with Indian expertise and continuing the momentum of supply for the country’s oil and related products demand.
India imports 81% of its oil need from abroad.