The MoUs signed reflect Saudi Aramco's international partnership strategy and its keenness to achieve economic diversification, enhance the local investment environment, and support job opportunities. <The MoUs reflect the Kingdom's and Saudi Aramco's international partnership strategy to achieve economic diversification, enhance the local investment environment, support job opportunities, and support the company's future strategy in all its business sectors, including refining, processing, marketing, marine, and engineering, through partnership with major international companies from eight countries: France, China, USA, Japan, United Arab Emirates, United Kingdom, South Korea and India. A number of MoUs contribute to strengthening the Kingdom's Total Value Added to the Supply Sector (IKTVA) program, one of the main initiatives through which the company seeks to improve the local supply chain, in terms of employment and job creation, through greater commercial partnerships with the national private sector, as the IKTVA program aims to increase the volume of goods and services supplied locally to 70% by 2021.
A number of MoUs contribute to strengthening the Kingdom's Gross Value Added to the Supply Sector (GVA) program, one of the main initiatives through which the company seeks to improve the local supply chain, both in the areas of employment and job creation, through greater commercial partnerships with the national private sector.
Saudi Aramco is pursuing a number of opportunities through which it will localize the industry and generate more jobs. The company is working to increase job opportunities for Saudi nationals over the next 10-15 years, with the King Salman Global Offshore Industries and Services Complex generating around 30,000 direct and 50,000 indirect jobs.
Saudi Aramco is also pursuing a number of opportunities to localize the industry and generate more jobs for Saudi nationals. The memorandums of understanding and cooperation signed by Saudi Aramco are as follows:
Memorandums of understanding and cooperation signed by Saudi Aramco are as follows:
- Memorandum of Understanding and Joint Development with France's Total to commence engineering designs of the second phase of the SATORP refinery.
- Memorandum of Understanding for the possible establishment of a retail gas station network with Total of France.
- Joint MoU with Hyundai Heavy Industries for the possibility of Hyundai investing in the King Salman International Marine Industries and Services Complex project in Ras Al Khair.
- Memorandum of Understanding with Baker Hughes GE
- Memorandum of Understanding with Schlumberger .
- Memorandum of Understanding with Halliburton USA .
- Memorandum of Understanding with Oilfield Supply Center.
- Memorandum of Understanding with Flexsteel to invest in a reinforced thermoplastic thermoplastic pipe facility.
- Memorandum of Understanding with Flexsteel
- MoU with UAE National Petroleum Construction Company to invest in subsea engineering, construction and installation.
- MoU for localization of steel engineering with CIH Changwon Steel Company.
- MoU with Qom Pro to invest in a drilling chemicals facility.
- MoU with Saudi ACWA Power and US Air Products for the gasification and power project in Jazan.
- Memorandum of Understanding with Sumitomo Corporation of Japan regarding a potential investment to develop the Petro Rabigh refinery.
- Memorandum of Understanding with China's Norenco regarding potential joint investments.
- Memorandum of Understanding for a joint investment with N.O.V. to manufacture and repair onshore drilling rigs and equipment in the Kingdom.
Saudi Aramco plays a pivotal role in enabling new industrial and commercial partnerships in the Kingdom thanks to its position as a global energy powerhouse, as evidenced by its key investments and partnerships globally, not only in the core area of crude oil and gas, refining, processing and marketing, but also in pursuing advanced technologies and value-added activities related to energy.
Saudi Aramco's infrastructure stands at the forefront of the Kingdom's industrial and commercial partnerships, as well as the pursuit of advanced technologies and value-added activities related to energy. The Kingdom's infrastructure is a testament to the unique and integrated progression of industrial activities, attracting investors and fostering a competitive spirit in the Saudi economy.
The Kingdom's infrastructure is a testament to the unique and integrated progression of industrial activities, attracting investors and fostering a competitive spirit in the Saudi economy.
