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(MENAFN - Arab News) Saudi Aramco has been named Energy Company of the Year for its commitment to a cleaner environment, its investment in bringing new energy streams online and its long-range vision promoting reliable supply for the future.
Now in their 23rd year, the awards are made by Hart Energy Publishing and will be presented on March 24 in Phoenix, Arizona.
Hart Energy Publishing noted that for 75 years, Saudi Aramco has been committed to increasing its oil production capacity to supply its customers.
"Hart recognition clearly understands that true energy security requires surplus capacity to effectively supply global customers and meet changing global needs," the company reported, also noting Saudi Aramco's continued investments
"Over the last five years, Saudi Aramco has spent more than $62 billion to increase its production capacity to more than 12 million bpd (barrels per day). In mid-2009, it brought on stream the Khurais Field, a 1.2-million bpd Arab Light oil field. In terms of capacity, it is the fourth largest oil field in the world and represents a major investment by Saudi Aramco.
"The PetroRabigh project demonstrates the commitment to continued investment by Saudi Aramco. It is a major integration of refining, gas and petrochemicals. The total project is still under construction/development, but in May 2009 it officially began operations with a segment starting up."
The Dhahran-based oil company was also commended for its technical and scientific leadership.
"The company's strong commitment to research and development is demonstrated by two major research centers with state-of-the-art computer technology, the Advanced Research Center of the company's Exploration and Petroleum Engineering Center, or EXPEC ARC, and the new Research and Development Center in Dhahran, a recently opened new university and many investments in research and development for fuel desulfurization, including tests to deploy bacteria that act as a catalyst to remove sulfur from fuels," Hart Energy Publishing stated.
Chinese national oil company Petrochina also received an award as 2009's international honoree.
Dawood M. Al-Dawood, Saudi Aramco's vice president for marketing, supply and joint venture coordination, will accept the award on behalf of the company.
Hart Energy Publishing produces Oil and Gas Investor, E&P, Pipeline and Gas Technology and FUEL magazines as well as energy industry-related websites, newsletters, conferences and directories.
By Siraj Wahab
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