Saudi Aramco GI 203.005 New Entity Formation

This document, Saudi Aramco General Instruction GI 203.005, provides a comprehensive framework for the formation of new entities and subsidiaries within Saudi Aramco and its affiliated organizations. It meticulously details the internal processes, procedures, and controls essential for establishing a new subsidiary, from initial conception through to the commencement of operations.

Key topics covered include pre-formation controls, operational controls, legal formation processes, funding authority assessment, accounting matters for entities under formation, and the establishment of IT systems. Furthermore, it outlines the roles and responsibilities of various departments and teams involved in the entity formation lifecycle, including crucial considerations for derivatives and financial instruments.

This instruction is vital for ensuring that all new entities align with Saudi Aramco's strategic objectives, financial directives, and legal compliance requirements. Ideal for corporate counsel, financial analysts, strategic planners, and accounting managers working within the oil and gas industry or similar large-scale corporate environments.