Saudi Aramco will spend more than $133 billion on oil and gas drilling over the next decade, a senior company executive said on Monday.
“We will spend more than half a trillion Saudi riyals on drilling activities over the next decade, in compliance with the goals and objectives of the ambitious Saudi Vision 2030,” Mohammed al-Qahtani, Aramco’s senior vice president for upstream, said in a statement.
On Monday, the Saudi Arabian Drilling Academy (SADA) held its first graduation for a cohort of 132 students representing 34 drilling and services companies. The ceremony was attended by Governor of the Technical and Vocational Training Corporation (TVTC), Ahmed al-Fahaid, Aramco President and CEO Amin Nasser, Mohammed Al-Qahtani, Saudi Aramco’s Vice President for Northern Area Oil Operations and Chairman of the Board of Trustees of the Saudi Arabian Drilling Academy (SADA), Dawood al-Dawood.
During the ceremony, Nasser explained that the concept behind SADA is unprecedented, where companies that operate in a competitive market agree to cooperate in a win-win approach and join forces for the good of the industry.
“What is happening here is a true sense of responsibility and solidarity among industry players. It is a start and will inspire others.” Nasser said.
For his part, Qahtani asserted that they were proud of the fruitful relationship with TVTC and the successful collaboration of the 34 companies funding the academy. He noted that the academy will play a great role in closing the talent gap and equipping Saudi students with the skills and capabilities required by drilling industry.
In addition, Dawood stated that SADA presents a unique model where different companies join efforts collectively to create a unified and centralized training and development facility that serves and meets the requirement of the market as a whole.
He went on to say that the academy fosters Saudization in the drilling industry and will create a localized pool of talents complemented by the creation of new job opportunities for Saudis, as outlined by Vision 2030.
“The academy is part of the corporate social responsibility efforts of the drilling companies in Saudi Arabia,” concluded Dawood.
The academy is funded by 34 private drilling companies and provided with logistical support by Aramco and the Technical Vocational Training Center in Abqaiq.
Under the current scope of training that began in September 2016, SADA’s comprehensive program ensures the job-readiness of workers ranging from rigman and junior services operator to skilled engineers, riggers and heavy equipment operators.
The initiative was proposed in 2014 to achieve the dual goal of generating knowledge-economy jobs that meet Aramco’s needs, and create a more efficient training model that reduces costs and increases stakeholder competitiveness.
It is estimated that nearly 90,000 Saudis must be trained over the next 20 years to support the industry’s growth plans.
