The Discovery of Oil
King Abdul Aziz invited searches for oil in 1933
Prospect of money from land concessions:Â
Aramco formed between Saudi government and oil companies
Aramco Explorers and Geologists, 1937
Aramco
Standard Oil Co. of California (now Chevron) first "[struck] oil in 1939 on a well called Dammam Well [No.] 7" (Frank Jungers, Former President of Aramco)
Later that year, largest oil reserves in the world found nearby in Dhahran