OREANDA-NEWS. November 05, 2013. The third annual U.S.-Saudi Business Opportunities Forum, held recently in Los Angeles, Calif., provided a platform for Saudi Aramco and Aramco Services Co. (ASC) representatives to talk with U.S. business leaders about these opportunities — which included establishing operations in Saudi Arabia in support of Saudi Aramco’s key initiatives.

The three-day event brought together more than 1,000 attendees from the United States and Saudi Arabia.

It was jointly organized by the U.S.-Saudi Arabian Business Council, the Committee for International Trade and the Saudi-U.S. Trade Group under the patronage of the Saudi Ministry of Commerce and Industry, as well as the U.S. Department of Commerce.

Munir Rafie, vice president of Saudi Aramco Materials Supply, participated in a panel session titled “Business Opportunities in the Oil and Gas Sectors.” He talked about the company’s history, current production capabilities and its ambitious goals to transform into a fully integrated, global energy and chemicals enterprise.

Now is the time, he told listeners, “for new businesses and investors to take part in our story of growth.”

He went on to say that these opportunities will arise as Saudi Aramco moves forward to invest tens of billions of dollars in oil, gas and petrochemicals during the next five years.

Investments are not only in new crude oil increments but also in major projects in natural gas production, refining, petrochemicals and residential communities.

“What Saudi Aramco plans to do will create direct opportunities for contracts with manufacturers and suppliers,” he said, “as well as indirect opportunities fostered through downstream industries.”

He emphasized that the company is focused on increasing the share of business channeled through local manufacturers. “Those who make the first move into the Saudi marketplace,” he said, “will have tremendous advantages and be well-positioned to share in our success.”

Rafie touched on a range of industry-related manufacturing investment opportunities in Saudi Arabia.

He noted, in particular, that investors could take advantage of a substantial market need for the production of pipe and structural steel.

The market also saw a need for investment in the production of columns, vessels, exchangers, valves, compressors, pumps, turbines, chemicals, drilling fluid, inhibitors, instrumentation and electrical manufacturing.

Additionally, Rafie said, “opportunities abound” on the service side, including equipment installation, commissioning and maintenance. He also said new business ventures are available in the areas of logistics, information technology, engineering, safety and more.

He concluded by saying that both Saudi Aramco and Saudi Arabia offer a “business friendly environment for investors,” adding that investment support organizations “stand ready” to assist those who are interested in pursuing partnerships.

Other panelists gave presentations about their company’s experiences of doing business with Saudi Aramco within the Kingdom. They provided an operational overview and also talked about the strong business ties that have been established.

The companies represented were Baker Hughes, Flowserve Corporation and Cameron. Moderating the panel was Helmy Andrawis, vice president with WorleyParsons.