Iktva in Action

VIDEO: Aramco signs nearly five dozen agreements for a total value of about $11 billion

Company looks to invest in accomplished local suppliers to strengthen Aramco’s resilience.

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The In-Kingdom Total Value Add (iktva) program aims to advance the Kingdom’s manufacturing sector and increase its global competitiveness.


Through iktva, we sign a series of agreements to strengthen global partnerships and in-Kingdom supply chains, including 59 new corporate procurement agreements with 51 global and in-Kingdom manufacturers valued at $11 billion.


The partnerships aim to target investments in several segments, including drilling chemicals, well heads, vibration monitoring systems, steel for structures, and air-cooled heat exchangers.


Our significant investments in a network of accomplished local suppliers strengthens Aramco’s resilience, ensuring that we remain the world’s most reliable energy company.
— Ahmad A. Al-Sa’adi, senior vice president of Technical Services at Aramco

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