Aramco Signed $7.2bn Worth of agreements and MoU’s

Aramco Signed $7.2bn Worth of agreements and MoU’s

Aramco announced in a statement that it has signed over 100 agreements and MoU’s, valued at around $7.2 billion to help advance a diverse, sustainable and globally competitive industrial ecosystem at the 7th edition of the In-Kingdom Total Value Add (iktva) Forum and Exhibition.

The program achieved 63% local content in 2022, up from 35% in 2015, when iktva was originally launched.

The forum, which runs from January 30 to February 2, is held under the theme of ‘Accelerating Future Success’. It highlights collective localization efforts in key focus areas including Digital, Sustainability, Industrial, and Manufacturing. The first day of the event attracted more than 10,000 visitors and the exhibition space included more than 290 companies.

The event, which was held under the patronage of HRH Prince Saud bin Nayef bin Abdulaziz, Governor of the Eastern Province, was also attended by Minister of Energy, HRH Prince Abdulaziz bin Salman bin Abdulaziz.

The gathering provided a platform for the launch of Aramco Digital Company, a wholly owned subsidiary which aims to accelerate digital transformation within the Kingdom and the MENA region.

Ahmad A. Al-Sa’adi, Aramco Executive Vice President of Technical Services, said: “The local supplier ecosystem is a top priority for Aramco as well as a