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Dhahran, Saudi Arabia, March 30 / PRNewswire / – An event attracts 1,000 national and international suppliers and 4,000 attendees from 40 different countries to help set up a world-clbad supply chain and a globally competitive local energy sector, at the service of national growth
The company has signed 27 business collaborations totaling $ 27.5 billion
Saudi Aramco hosted the IKTVA forum and exhibition for the fourth time this week at the Dhahran Expo Center in Dammam, attracting more than 1,000 local and international service providers and equipment suppliers, as well as manufacturers and suppliers. small and medium enterprises, for which they invest in Saudi Aramco investment opportunities. to explore upstream the areas of chemicals, utilities, non-metal, IT and cybersecurity, etc.
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This annual flagship event supports IKTVA (In Kingdom Total Value Add), Saudi Aramco's localization strategy to create a world-clbad supply chain and make Saudi Arabia a competitive energy hub. in line with the Kingdom's economic diversification program, Vision 2030.
The Forum, which will be held from November 26 to 27 under the patronage of S.K.H. Prince Saud Bin Nayef bin Abdulaziz Al Saud, Governor of East Province, presented lectures, workshops and roundtables on best practices in regulatory requirements, funding, research and development and talent development.
In addition to signing agreement protocols and commercial collaborations, a rewards program has been organized to celebrate the program 's successes for the year (the winning companies are listed below).
Participation in IKTVA is mandatory for any Saudi Aramco supplier, as the program aims to reach 70% of local content by 2021, to create thousands of jobs and to export 30% of energy goods and services. local. Partnerships support local content by contributing to job creation, technology transfer, education and development, as well as research and development. By the year 2030, 30 training centers will be set up to prepare 360,000 highly qualified graduates for future jobs.
In return, companies with a local presence can benefit from Saudi Aramco's more than $ 1.7 trillion in localization over the next decade.
"Our 2018 IKTVA Forum marked half of our local content goals and the event highlighted the win-win nature of our program, in which many international suppliers are increasing their market share or moving their production. to the Kingdom, "said Amin H. Nbader, President and CEO of Saudi Aramco. "In those two days, we signed a total of 31 commercial enterprises for $ 27.5 billion. The companies that have invested here are well positioned to continue to benefit as we launched our business in Riyadh last month as part of the Future Investment Initiative. 125 billion GIS, many of which will have a direct impact on IKTVA. Up to now, 51% of each riyal spent on equipment and services provided by Saudi Aramco will be spent locally. "
IKTVA's annual forum and trade show is the world's largest event on the energy supply chain. It boosts national added value and maximizes the long-term sustainable growth of the kingdom's changing economy.
More than 1,000 companies, approximately 4,000 attendees from 40 countries and more than 80 exhibitors attended the event.
Memoranda of Understanding and commercial collaborations included the following companies and institutions:
* Offshore Oil Engineering Co.Ltd.
* Sapura Manufacturing Sdn
* Lamprell Energy Consortium and Boskalis Westminster
* Consortium of Technip Italy and Malaysia Marine & Heavy Engineering
* National Company of Petroleum Construction
* Baker Hughes, a GE company
* Schlumberger
* Siemens
* Industrial Development Fund of Saudi Arabia
* PowerChina
* FIG
* Main National Academy, Technical and Vocational Training Body, Human Resources Development Fund and 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
* Drilling group on tray
* Noble
* Larsen & Toubro
* Gulf Heavy Industries
* International Society Al Khonaini
* Holding company Hadi Hammam Al Hammam
* Leanardo Helicoptor & Lamar Holding Company
* Airbus and Al-Qahtani Aviation
* Main National Academy (LNA) and National Academy of Power (NPA)
The winners of the IKTVA 2018 Excellence Awards:
* Best Overall ICT Performance, Schlumberger Middle East
Best improvement in ICT performance from one year to the next, Tecnicas Reunidas
* Best Training and Development, Nbader S. Al-Hajri Corp.
* Best Small Business Development, Baker Hughes General Electric
* The best of the Saudi drilling company
* Best in Exports, Saudi company Amiantit.
About Saudi Aramco
Saudi Aramco is considered the world's first integrated energy and chemical company. We are guided by our fundamental belief that energy is an opportunity. Our global team is committed to making a positive impact on everything we do – from producing almost 8 barrels of global crude oil products to developing new energy technologies. We strive to make our resources more sustainable and profitable, thereby promoting long-term economic growth and prosperity around the world. http://www.saudiaramco.com
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