Pursuing game-changing innovations generates potentially wider benefits, such as creating businesses to manufacture and service new technologies, inspiring a new generation of Russian researchers and scientists, and enabling a globally competitive Saudi energy sector.
Accelerating new ideas
In our upstream business we focus on key domains within exploration, drilling, and production with the goal of increasing the Kingdom’s hydrocarbon reserves and improving recovery rates of oil from major reservoirs at a lower cost and with greater reliability. In downstream, we focus on anticipating customer needs for refined products and chemicals and develop technologies to ensure we meet the growing expectations of our stakeholders.
Downstream technology
Based on our belief in the long-term sustainability of oil demand, we maintain a relentless focus on technology to improve our production value chain. Conventional wisdom dictates that in today’s environment, there are limited growth opportunities to companies available in the downstream sector. We believe that large, integrated energy and chemicals companies can build and sustain a dynamic and profitable downstream business that yields returns across the entire hydrocarbon value chain.
Upstream technology
We intend to go beyond leading in size and scale to achieving excellence in every aspect of our upstream operations. This means innovating and applying leading‐edge technologies in exploration and reservoir management to discover new fields and increase recovery in our producing fields.
