Part of Saudi Aramco’s “In Kingdom Total Value Add” program requires every supplier to participate in the kingdom’s localization strategy whereby Aramco is building its own “in-house” supply chain. Participation in the annual program is mandatory. Aramco’s goal is “70 percent local content by 2021,” the company said.
Organizations that have committed include:
- Offshore Oil Engineering Co. Ltd.
- Sapura Fabrication Sdn
- Consortium of Lamprell Energy and Boskalis Westminster
- Consortium of Technip Italy and Malaysia Marine & Heavy Engineering
- National Petroleum Construction Company
- Baker Hughes, a GE Company
- Schlumberger
- Siemens
- Saudi Arabia Industrial Development Fund
- PowerChina
- ABB
- Leading National Academy, Technical & Vocational Training Corp, Human Resource Development Fund, and the Ministry of Labor and Social Development
- Gulf Chemicals & Industries Oils Company
- Yokogawa
- Schneider Electric Company
- Honeywell
- Emerson
- Saudi Mechanical Industries
- Weir Arabian Metal/Weir Group
- TechnipFMC
- Ensco
- Shelf Drilling Group
- Noble
- Larsen & Toubro
- Gulf Heavy Industries
- Al-Khonaini International Company
- Hadi Hammam Al Hammam Holding Company
- Leanardo Helicoptors & Lamar Holding Company
- Airbus & Al-Qahtani Aviation
- Leading National Academy (LNA) & National Power Academy (NPA)
The agreements will be signed on the sidelines of Aramco’s In-Kingdom Total Value Add Program (IKTVA), which will take place on Monday and Tuesday, according to a report from Reuters.
