Aramco: Armin H. Nasser’s Rise to the Top of Energy
Few figures stand as tall in the energy sector as Amin H. Nasser, the President and CEO of Saudi Aramco. With a career spanning more than four decades, Amin has become a driving force in the industry, steering the world's largest integrated energy and chemicals enterprise through periods of significant change and growth.
The rise of a visionary leader
Situated along the Arabian Gulf is the vibrant, modern city of Dhahran. Inside is the site of Dammam No. 7 on a hill named Jabal Dhahran, where the first oil in Saudi Arabia was discovered in 1938. This marked the beginning of the country’s oil era, and is today represented by a plaque. The city is also home to the King Fahd University of Petroleum and Minerals, where Amin studied for a bachelor’s degree in petroleum engineering.
Amin joined Saudi Aramco in 1982 as an engineer in the oil production department. Over the years, he held various roles, gaining extensive experience in exploration, petroleum engineering and oil and gas production. His dedication and expertise led to his appointment as Senior Vice President of Upstream in 2008, overseeing exploration, petroleum engineering and production activities.
In 2015, Amin's career reached new heights when he was appointed President and CEO of Saudi Aramco. This role has seen him lead the company through significant transformations, including its initial public offering (IPO) in December 2019 that raised US$25.6bn, marking the biggest IPO of all time.
Amin says: “These are exciting times for Aramco as we continue to seek new opportunities to enhance our portfolio and our capabilities to enable a secure and more sustainable energy future.”
Saudi Aramco’s history
In 1933, a Concession Agreement was signed between Saudi Arabia and the Standard Oil Company of California. This resulted in the creation of the California Arabian Standard Oil Company (CASOC) to manage the agreement.
CASOC spent years looking for oil, before finally finding Dammam No. 7, nicknamed the “prosperity well”. The company’s name was changed to the Arabian American Oil Co. (Aramco) in 1944. After proving it was an economic force for the country, the Saudi government purchased a 25% interest in 1973 which grew to 60% the next year.
Aramco has continued to innovate, developing new technologies and techniques to discover and extract oil. It developed POWERS (Parallel Oil-Water-Gas-Reservoir Simulator) in 1997 to model and predict the performance of reservoirs, which became so successful it inspired a range of more powerful and precise Aramco simulation software.
The company now manages more than a hundred oil and gas fields in Saudi Arabia and operates the world’s largest single hydrocarbon network, the Master Gas System.
Amin says: “As we focus on strategic growth opportunities and capturing value through integration and diversification, we intend to maintain our positive momentum and cement our position as a leading global energy and petrochemicals player.”
Supporting the next generation of energy leaders
Armin's leadership philosophy extends beyond business strategy. He is a strong advocate for education and talent development, recognising these as key drivers of innovation and progress in the energy sector. Under his guidance, Saudi Aramco has implemented numerous initiatives to foster the growth of young professionals.
The Young Leaders’ Advisory Board connects Aramco's leadership with the voices of its young professionals. Established in 2011, it serves as a platform to channel the energy of younger generations within the company, which now make up more than 60% of the company.
This platform not only provides valuable insights to the company's leadership but also empowers the next generation of energy leaders.
How Armin is shaping the future of energy
Armin has led Aramco to pledge US$100m for research and development initiatives at the King Abdullah University of Science and Technology from 2024 to 2034. This is aimed at increasing sustainability in the energy industry and supporting the energy transition.
Amin explains: “This collaboration will further deepen Aramco’s relationship with KAUST and we look forward to exploring new possibilities and frontiers with a strong focus on R&D and technology development, reflecting our firm belief in the importance of innovation across industries and applications.”
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