{"id":22158,"date":"2018-10-24T12:09:20","date_gmt":"2018-10-24T09:09:20","guid":{"rendered":"http:\/\/www.amlak.net.sa\/home\/?p=22158"},"modified":"2018-10-24T12:09:20","modified_gmt":"2018-10-24T09:09:20","slug":"%d8%b4%d8%a7%d8%b1%d9%83%d8%aa-%d9%81%d9%8a-%d9%85%d8%a4%d8%aa%d9%85%d8%b1-%d9%85%d8%a8%d8%a7%d8%af%d8%b1%d8%a9-%d9%85%d8%b3%d8%aa%d9%82%d8%a8%d9%84-%d8%a7%d9%84%d8%a7%d8%b3%d8%aa%d8%ab%d9%85%d8%a7","status":"publish","type":"post","link":"https:\/\/amlak.net.sa\/en\/22158\/","title":{"rendered":"Participated in the Future Investment Initiative Conference: Saudi Aramco signs 15 agreements with international companies worth $34 billion"},"content":{"rendered":"

During its participation in the Future Investment Initiative (FII) conference currently underway in Riyadh, Saudi Aramco signed 15 memorandums of understanding (MoUs) in several areas of cooperation and strategy worth about $34 billion, involving 15 companies and institutions from eight countries on three continents, reflecting the company's ambition and growth in its business portfolio to strengthen its position as a leading energy and chemicals company in the world.<\/p>\n

The MoUs reflect the Kingdom's international partnership strategy and Saudi Aramco's keenness 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.<\/p>\n

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, both 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 locally sourced goods and services to 70% by 2021.<\/p>\n

Saudi Aramco is pursuing a number of opportunities to 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 jobs and 50,000 indirect jobs.<\/p>\n

The memorandums of understanding and cooperation signed by Saudi Aramco are as follows:<\/p>\n

    \n
  1. Memorandum of Understanding and joint development with France's Total to begin engineering designs for the second phase of the SATORP refinery.<\/li>\n
  2. A memorandum of understanding for the possible establishment of a retail gas station network with France's Total.<\/li>\n
  3. A joint memorandum of understanding with Hyundai Heavy Industries for Hyundai's potential investment in the King Salman International Marine Industries and Services Complex project in Ras Al Khair.<\/li>\n
  4. Memorandum of Understanding with Baker Hughes General Electric<\/li>\n
  5. Memorandum of Understanding with Schlumberger.<\/li>\n
  6. Memorandum of Understanding with Halliburton.<\/li>\n
  7. Memorandum of Understanding with the Oilfield Supply Center.<\/li>\n
  8. Memorandum of Understanding with Flexsteel to invest in a reinforced thermoplastic thermoplastic pipe facility.<\/li>\n
  9. A memorandum of understanding with the UAE's National Petroleum Construction Company to invest in subsea engineering, construction and installation.<\/li>\n
  10. A memorandum of understanding to localize steel engineering with CIH Changwon, which specializes in steel.<\/li>\n
  11. A memorandum of understanding with Qom Pro to invest in a drilling chemicals facility.<\/li>\n
  12. A memorandum of understanding with Saudi Arabia's ACWA Power and US-based AirProduct for the Jazan gasification and electric power project.<\/li>\n
  13. A memorandum of understanding with Japan's Sumitomo regarding a potential investment to develop the PetroRabigh refinery.<\/li>\n
  14. A memorandum of understanding with China's Norinco regarding potential joint investments.<\/li>\n
  15. Memorandum of Understanding (MoU) for a joint investment with N.O.V. to manufacture and repair onshore drilling rigs and equipment in the Kingdom.<\/li>\n<\/ol>\n

    As a global energy powerhouse, Saudi Aramco plays a pivotal role in enabling new industrial and commercial partnerships in the Kingdom, 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.<\/p>\n

    The Kingdom's infrastructure is a testament to the unique and integrated progression of industrial activities, attracting investors and boosting the competitiveness of the Saudi economy.<\/p>","protected":false},"excerpt":{"rendered":"

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