CEO`s of GCC Companies Attend BDI Workshop 2 RAS TANURA

Meanwhile, President and CEO Khalid A. Al-Falih delivered a message on corporate
social responsibility and engaged workshop participants and faculty in a discussion
on the topic.

Al-Falih highlighted that the core of the region’s ethical heritage is the spirit
of sharing moderate risks and reasonable rewards, which aligns with corporate
social responsibility.

“A good corporate steward,” he said, “succeeds at sustainability when it
embraces both a longer and a broader view than an emphasis on here-and-now,
short-term profits.”

Since its initial workshop in 2007, which was also sponsored by Saudi Aramco, close
to 150 board members representing more than 200 boards of various companies have
attended BDI workshops across the GCC, which comprises Saudi Arabia, the United
Arab Emirates, Kuwait, Qatar, Bahrain and Oman.

On his part, a globally recognized corporate governance expert professor David
Beatty of the University of Toronto’s Rotman School of Management, highlighted
examples of boards, many of which provide oversight of closely held family
companies, which have enabled their companies to provide significant financial
returns to shareholders while being effective local, regional and global stewards.
“These are the rewards reaped by those who are diligent about good governance.”

The workshop agenda included a short trip aboard the Saudi Aramco Hydrographic
Survey Vessel Karan-8, according to a report carried by Saudi Aramco's web-site.

--SPA