Aramco inks 50 MoUs to up localisation
Saudi Arabia Saudi Aramco
Key signers include international players Schlumberger, TechnipFMC, Baker Hughes, Larsen & Toubro and Honeywell.
All partnerships were signed during the In-Kingdom Total Value Add Forum and Exposition in Dhahran.
Since the In-Kingdom Value Add programme began in 2015, the NOC’s spending directed to domestic suppliers has raised from 35% to 59% in 2021.
The initiative has so far attracted 540 investments to Saudi Arabia from 35 countries.
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