The Executive Committee of the Board of Directors met recently, approving an aggressive 2007 Operating Plan that, among other things, includes a beefed-up safety emphasis aiming at zero accidents and injuries. President and chief executive officer Abdullah S. Jum'ah chaired the meeting, and the main agenda item was the 2007 Operating Plan. In a conference call to company management, senior vice president of Exploration and Producing Abdullah S. Al-Saif described the plan as "maximizing the company's contribution to the Kingdom's revenues while focusing on the effective management of an unparalleled workload in a challenging business environment, while safeguarding our people, our assets and the environment." The plan includes record drilling requirements, continued high production and development of new increments. "We are executing the largest capital program in the company's history," Al-Saif said, "and we must rely upon our own skills, on technology, on innovation and on a fully prepared and resilient workforce to achieve our corporate goals and objectives." Other committee business included a report on the proposed industrial park for industry connected with the Rabigh Petrochemical Development Project (PETRORabigh), the joint venture being executed by Saudi Aramco and Sumitomo Chemical. There was also a status report on the proposed Fujian Project, a joint venture under discussion with China and ExxonMobil Corp., for the upgrade of an existing refinery in Fujian, China, and the establishment of associated petrochemical facilities. An information report on the status of the proposed Motiva Port Arthur Refinery Expansion Project was also presented, according to a report carried by Saudi Aramco's web-site. "All matters considered and presented to the Committees for approval were approved as presented," Al-Saif said.
