In a move to strengthen relations with Asian customers, Saudi Aramco has opened the new Aramco Overseas Company office in the Malaysian capital Kuala Lumpur, and is also opening a similar office in Shanghai, China.
The decision is aimed at the strategic sourcing of new companies involved in manufacturing and contracting of material for Saudi Aramco, which would boost business opportunities for Malaysia through the company's massive capital programs.
"The opening of these two new offices reflects the growing importance of the Asia-Pacific region to Saudi Aramco, not only as a market for its crude oil and products, but also as a provider of essential goods, materials and services," Aramco said in a statement. "Details regarding the opening of these two new Aramco Overseas offices will be forthcoming."
Saudi Petroleum, another Aramco subsidiary, meanwhile, plans to keep an office in Singapore. "Its primary function is to provide sales and marketing support to Saudi Aramco customers in the region. The functions and location of this office will not change," Aramco said.
The company is pursuing a long-range business plan designed to focus on and capture the emerging markets in South East Asia, through a combination of the strategic location of the Kuala Lumpur office in the region and Saudi Arabia's strong commercial, cultural and religious ties with Malaysia.
"Saudi Aramco has strong ties with some Malaysian manufacturers and service providers, and we are eager to enhance and expand on these relationships," Abdulaziz F. Al-Khayyal, Saudi Aramco senior vice president of Refining, Marketing and International, was quoted as saying in the Saudi Press Agency. "This new office in Kuala Lumpur, in the heart of this nation's petroleum industry, will allow us to better coordinate future business opportunities here."
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