Offshore staff
RIYADH, Saudi Arabia – Saudi Aramco has signed 15 memoranda of understanding (MoUs) and strategic/commercial collaborations with 15 international companies from eight different countries.
Total value of the contracts is more than $34 billion.
The MOUs will support Aramco’s forward plans, including offshore and engineering. Some will assist theIn-Kingdom Total Value Add (IKTVA) program, Aramco’s initiative to improve the domestic Saudi supply chain and employment potential through greater engagement with local businesses.
Its aim is to achieve 70% of locally supplied goods and services by 2021.
Among the MOUs are:
- A collaboration with Hyundai Heavy Industries concerning the latter’s potential investments in the King Salman International Maritime Complex for Industries and Services at Ras Al Khair
- MOUs with Baker Hughes GE, Schlumberger, Halliburton, and Oilfield Supply Center
- MOU with Flex-Steel to invest in an RTP reinforced thermoplastic pipe facility
- MOU with NPCC (National Petroleum Construction Company, UAE) to invest in a fully integrated fabrication yard and marine base
- MOU with SeAH Changwon Integrated Specialty Steel Co to invest in localization of engineering steel
- MOU with GumPro (India) to invest in a drilling chemicals facility.
10/31/2018
