Saudi oil giant Aramco’s supply chain resilience has been further enhanced by the signing of 50 new Memoranda of Understanding at the In-Kingdom Total Value Add iktva Forum and Exhibition.Major signings include: Schlumberger – Partnership on climate leadership and digitalization through localization initiatives Cameron/TechnipFMC/Baker Hughes – Wellhead equipment localization procurement agreements Larsen & Toubro – Pressure vessel fabrication localization Sutherland Global Services – Smart City services localization Tanajib Cogeneration Power Company – Tanajib cogeneration and desalination agreement Honeywell – Localization of process automation solutions Alfanar Company - Carbon fiber investment collaboration2022 iktva award winners:Highest overall iktva performance In services sector: Schlumberger Middle East In construction sector: C.A.T International In manufacturing sector: Alkhorayef PetroleumBest in training and development HalliburtonBest in supplier development Baker HughesBest in Saudization In manufacturing sector: ArcelorMittal In services sector: Arabian Drilling CompanyBest in female employment Tamimi GlobalBest in exports In manufacturing sector: Al-Babtain Power and Telecommunication In services sector: Saudi Aramco Nabors DrillingThe iktva program aims to drive domestic value creation, maximize long-term economic growth and diversification, and build a world-class supply chain that facilitates the development of a diverse, sustainable and a globally competitive energy sector in the Kingdom, at a time when global supply chains have been disrupted by the COVID-19 pandemic. As a result of iktva, 59% of Aramco’s spending in 2021 was directed to domestic suppliers, up from 35% in 2015 when the program was launched.
Saudi oil giant Aramco’s supply chain resilience has been further enhanced by the signing of 50 new Memoranda of Understanding at the In-Kingdom Total Value Add iktva Forum and Exhibition.Major signings include: Schlumberger – Partnership on climate leadership and digitalization through localization initiatives Cameron/TechnipFMC/Baker Hughes – Wellhead equipment localization procurement agreements Larsen & Toubro – Pressure vessel fabrication localization Sutherland Global Services – Smart City services localization Tanajib Cogeneration Power Company – Tanajib cogeneration and desalination agreement Honeywell – Localization of process automation solutions Alfanar Company - Carbon fiber investment collaboration2022 iktva award winners:Highest overall iktva performance In services sector: Schlumberger Middle East In construction sector: C.A.T International In manufacturing sector: Alkhorayef PetroleumBest in training and development HalliburtonBest in supplier development Baker HughesBest in Saudization In manufacturing sector: ArcelorMittal In services sector: Arabian Drilling CompanyBest in female employment Tamimi GlobalBest in exports In manufacturing sector: Al-Babtain Power and Telecommunication In services sector: Saudi Aramco Nabors DrillingThe iktva program aims to drive domestic value creation, maximize long-term economic growth and diversification, and build a world-class supply chain that facilitates the development of a diverse, sustainable and a globally competitive energy sector in the Kingdom, at a time when global supply chains have been disrupted by the COVID-19 pandemic. As a result of iktva, 59% of Aramco’s spending in 2021 was directed to domestic suppliers, up from 35% in 2015 when the program was launched.
