RIYADH: Energy giant Saudi Arabian Oil Co. has established a set of standards and measures to reduce the risks of metal corrosion as the company employs cutting-edge technologies to ensure safety protocols, a top official said.
Speaking at the 18th edition of the Middle East Metal Corrosion Conference and Exhibition in Bahrain, Saudi Aramco’s Executive Vice President of Technical Services Wail Al-Jaafari said the firm is committed to protecting the environment while ensuring a reliable energy supply globally.
He added that the company continues to work to develop in-house solutions for corrosion management as they monitor 6.5 million data points collected from 35,000 areas exposed to rust.
According to Al-Jaafari, this continuous monitoring of data points helps improve asset performance, safety, and reliability, along with reducing breakdowns.
He emphasized that the usage of polymers, composites, and carbon-based materials plays an important role in reducing emissions, and Aramco has benefited from the development of non-metallic materials by installing 14,000 km of pipelines and more than 40 million meters of reinforcing bars made of fiberglass-reinforced polymer.
Earlier in November, Aramco’s Chairman Yasir Al-Rumayyan highlighted that the premature abandonment of traditional energy sources will threaten energy security, leading to expenditure challenges.
According to Al-Rumayyan, the early phase-out of conventional sources has created cost-related challenges, as witnessed in the recent energy crisis.
He added that bridging the gap between unrealistic goals through data will be necessary to drive the global economy toward carbon neutrality.
Meanwhile, on Nov. 7, Aramco revealed that its net profit for the third quarter of this year increased by 8.31 percent to SR122.19 billion ($32.6 billion) compared to the previous quarter, primarily driven by higher crude oil prices and improved refining margins.
The company also added that its operational profit for the third quarter of this year rose 10.3 percent to $62.50 billion compared to the previous quarter.
In the first nine months of 2023, Aramco reported a net profit of $94.54 billion, representing a fall of 27.46 percent compared to the same period of the previous year, primarily driven by lower crude oil prices and weakening refining and chemicals margins during the period.