ARAMCO TIME­LINE

The National - News - - BUSINESS -

1933 Oil con­ces­sion agree­ment signed 1935 The first test well is drilled into the Dam­mam Dome

1938 Com­mer­cial quan­ti­ties of oil dis­cov­ered at Dam­mam Well No. 7

1939 First tanker load of petroleum ex­ported

1940 Abqaiq field dis­cov­ered

1949 Oil pro­duc­tion hits 500,000 bpd

1951 Safaniya off­shore oil field dis­cov­ered

1962 Crude oil pro­duc­tion hits

5 bil­lion bar­rels

1976 First to pro­duce more than 3 bil­lion bar­rels of oil in a year

1980 Saudi govern­ment con­cludes pur­chase of Aramco

1991 35% in­ter­est ac­quired in South Korean re­fin­ery

2009 Aramco's petro­chem­i­cal plant Petro Rabigh be­gins pro­duc­tion

2019 Saudi Aramco ac­quires 70% ma­jor­ity stake in Sabic for $69.1bn

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