Partner: Saudi Aramco
China encourages enterprises to "go global", while Saudi Arabia actively attracts foreign investment and advanced technology.
China's manufacturing and engineering capabilities complement Saudi Arabia's oil and gas resources and capital reserves.
Decades-long history of cooperation in the energy sector. China is one of the largest buyers of Saudi crude oil.
Deep combination of China's advanced technology and Saudi Arabia's strong capital strength promotes traditional energy upgrading and new energy innovation.
Jointly tackle challenges: Faced with global energy transition and climate change, China and Saudi Arabia share a common willingness to explore low-carbon technologies and develop new energy fields such as hydrogen energy.
Actively participate in the development of large natural gas fields such as Jafurah, provide full industry chain services.
Participate in downstream refining and chemical integration projects, converting crude oil into high value-added chemical products.
Utilize Chinese AI and industrial Internet technology to digitally transform existing oilfields and refineries.
Joint R&D and project investment in hydrogen energy, CCUS and other fields.
Core of the plan: Empowering Saudi Arabia's energy strategy in all aspects. The four major cooperation directions are precisely aligned with Saudi Arabia's "2030 Vision".
Chinese enterprises have mature technologies and rich experience, fully meeting Aramco's strict quality and technical standard requirements.
Saudi Aramco has strong capital strength, with capital expenditures of 50-55 billion US dollars in 2026.
Daily production capacity (barrels)
Net profit 2025
Capital expenditures 2026
Iktva localization target by 2030
International oil company bears exploration and development costs. After production, shares profit oil with resource country.
Features: High-risk, high-return. Suitable for new blocks with high exploration risks.
Resource country hires international oil company for technical support, pays service fees.
Features: Resource country maintains full control. Suitable for mature oil fields.
Design, Procurement, Construction (+ Financing)
Features: Owner management interface is highly simplified. Most commonly used for large-scale industrial projects.
Applicable: Large-scale engineering construction.
Build-Operate-Transfer
Core value: Introducing social capital, alleviating government investment pressure.
Typical scenario: LNG receiving stations, power plants, highways, sewage treatment plants.
Joint Venture (JV) with Saudi Aramco for joint investment and operation. Enables risk and benefit sharing.
EPC or EPC+F model. Gives full play to Chinese enterprises' comprehensive strengths in engineering construction.
Joint Venture (JV) model for joint investment, construction, and operation. Deeply binds interests of both sides.
Technical Service Contract (TSA) model in a "pay-for-performance" manner. Lowers owner's trial-and-error costs.
Market research, supplier registration, pass Aramco's strict qualification pre-review system.
Obtain bidding information, prepare and submit bidding documents, conduct commercial and technical contract negotiations.
Form professional project team, implement Aramco's iktva procurement plan, high-standard HSSE management.
Mechanical completion, system commissioning, final acceptance, warranty service or long-term operation.
Cooperation Key: Strictly abide by Aramco's standards, ensure localization and compliance go hand in hand.
Core Process Requirements: Professionalism • Prudence • Compliance • Safety • Win-Win
China National Petroleum Corporation
Headquarters: Beijing, China
China National Offshore Oil
Headquarters: Beijing, China
China Petrochemical Corporation
Headquarters: Beijing, China
Sinochem Holdings Corporation Ltd.
Headquarters: XiongAn, China
Jointly Building Saudi Arabia's Energy Value Chain
Chinese-owned group delivering world-class infrastructure and textile manufacturing, bridging Ethiopia and Saudi Arabia under Vision 2030.
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