After the expiry of the concession agreement between Arabian Oil Company Ltd (AOC) and Kingdom of Saudi Arabia on Feb. 27th, 2000, Aramco Gulf Operations, in its capacity as representative for the Saudi side, has spontaneously and efficiently carried on oil activities assumed its activities in the next day, Feb. 28th, 2000, and has successfully managed the Saudi share in oil production and other oil products within the Divided Zone, which includes the following oilfields:

Khafji, Hout, Lulu and Dorra.

Since the very beginning, the Saudi employees realized the importance of AGOC as a newly emerging national company, and consequently, found reassurance in its credibility when the Company transferred all Saudi employees from AOC to the AGOC, without prejudice to the rights and privileges that were acquired throughout their years of service. This procedure has actually assured and afforded them with more confidence and motivated them to exert more efforts right from the very beginning of the new Company's operations.

AGOC has adopted, from the very beginning, a strategy for establishing relations marked with mutual trust, confidence and openness with its staff. This laid down a solid ground for the relations between the Company and its employees.

AGOC is efficiently managed by a highly qualified board of directors; chaired by Mr. Khaled A. Al-Buraik, and it is presided by Eng. Ali Saleh Al-Ajmi; President and CEO.