DUBAI: State oil giant Saudi Aramco said on Sunday it was setting up a new corporate development organisation to oversee the company's assets and secure greater access to growth markets and technologies.

The new organisation, which will be led by Senior Vice President Abdulaziz al-Gudaimi and start operating on Sept. 13, will "support rapid and effective decision-making on the portfolio and corporate development activities," Aramco, the world's top oil producing company, said in a statement.

The company's CEO Amin Nasser said that the organisation would focus on opportunities for growth in order to maximise value for Aramco's shareholders.