Since the 1990s, Saudi Aramco has actively pursued investment opportunities in China. In 2007, after over a decade of effort, China's first ten-million-ton refining and chemical integration joint venture was established in Quanzhou, Fujian, with Saudi Aramco as a key partner. It continues the friendship and economic and cultural legend between China and Saudi Arabia established since the Ming Dynasty.
How can we support China's high-quality development？
As the world's factory and growth engine, China's demand for oil continues to grow. Since Fujian Refining and Petrochemical Company Limited (FREP) began operations, Saudi Aramco has provided stable feedstock.
Saudi Aramco prioritizes meeting JV partners' energy demand with a supply reliability of 99.8%. Additionally, Aramco's upstream crude oil carbon intensity is one of the lowest in the industry, laying the foundation for China's Dual Carbon goals.
Mr. ZAMZAMI, Haytham
FREP VP of Commercial & Functional Department
How can we fuel greater innovation?
At Saudi Aramco, every employee serves as a catalyst for future innovation. We have introduced this value of innovation, along with Saudi Aramco’s Innovation Hub, to FREP.
The hub, coupled with our regular 'Innovation Days', encourages employees to generate groundbreaking ideas. By exchanging ideas, experiences, and insights with each other, we provide a solid foundation of inspiration for innovative projects. Following selection, these ideas are implemented to genuinely create value through innovation.
Mr. AL-MUFTI, Abdullatef A.
Vice President
Setup & Teadiness Department of Aramco Asia
How can we promote cultural exchanges between China and Saudi Arabia？
Since 1998, Saudi Aramco has been sending overseas students to China to promote cultural exchanges between China and Saudi Arabia. Initially facing language barriers and difficulties in adapting to life, they have now settled down and established careers in China. They have grown into the backbone of the energy and petrochemical industry, continuously shining and contributing to this cause in their respective positions.
Mr. AL-KHARBOUSH, Meshal M.
Vice President, South China Portfolio Management Dept.
Xiamen Branch Manager of Aramco Asia
How can energy and petrochemical projects drive local prosperity?
Fujian Refining and Petrochemical Company Limited (FREP) strategically positioned itself in the refining and petrochemical integration industry by establishing a robust industrial chain centered around the petrochemical sector, thereby driving the growth of the entire manufacturing industry and GDP of Quanzhou.
FREP, one of the largest Sino-foreign joint ventures in Quanzhou, and among the top 30 enterprises in Fujian, contributes billions in economic value annually. It also develops local talents with international capabilities. Saudi Aramco is honored to support Quanzhou's development.
In addition, the ethylene, aromatics, and other chemical raw materials produced by Fujian Refining and Petrochemical Company Limited (FREP) are refined into materials such as synthetic fibers downstream, indirectly promoting the growth and globalization of local footwear and apparel brands in Fujian. Furthermore, as the scale of upstream and downstream enterprises expands, more and more local residents have secured employment opportunities, and small businesses around the enterprises have also gained more business opportunities.
Looking to the Future
Over the past 15 years, China's petrochemical industry has seen remarkable success, Saudi Aramco has benefited from China's rapid growth and development opportunities.
The success of Fujian Refining and Petrochemical Company Limited (FREP) has given Saudi Aramco great confidence, making "Invest in China, Believe in China" a firm development strategy for Saudi Aramco. Starting with FREP, and extending to projects in HAPCO and Rongsheng, the cooperation between Saudi Aramco and its Chinese partners will continue.