Offshore staff
DHAHRAN, Saudi Arabia – Aramco has signed 50 new memoranda of understanding (MoUs) at the In-Kingdom Total Value Add (iktva) Forum and Exhibition.
The iktva program is designed to drive value creation in Saudi Arabia, improve long-term economic growth and develop a strong supply chain, Aramco said, during a period in which global supply chains continue to be disrupted by COVID-19.
As a result of iktva, the company was able to direct 59% of its expenditure last year to domestic suppliers, compared with 35% in 2015 when the program was started.
Among the new MoUs are:
- Schlumberger – A partnership on climate leadership and digitalization through localization initiatives
- Cameron/TechnipFMC/Baker Hughes – Wellhead equipment localization procurement agreements
- Larsen & Toubro – Pressure vessel fabrication localization
Aramco also issued the following awards:
Best in supplier development
- Baker Hughes
Best in Saudization
- In manufacturing sector: ArcelorMittal
- In services sector: Arabian Drilling Company
Best in exports
- In services sector: Saudi Aramco Nabors Drilling
Highest overall iktva performance
- In services sector: Schlumberger Middle East
01/26/2022
