KBR signs agreement with Aramco to expand IKTVA activities

KBR signs agreement with Aramco to expand IKTVA activities
The MoU and initiative is in line with Saudi Aramco's In-Kingdom Total Value Add (IKTVA) initiative.
Published: 13 August 2017 - 1:17 a.m.
By: Indrajit Sen

American EPC contractor KBR has entered into a Memorandum of Understanding (MoU) with Saudi Aramco to expand and develop KBR's services for the Saudi oil giant in line with the Saudi Arabia's localisation objectives.

The MoU and initiative is in line with Saudi Aramco's In-Kingdom Total Value Add (IKTVA) initiative that aims to double the percentage of locally produced energy-related goods and services to 70% of the total spent by 2021.

The MoU also seeks to encourage Saudi Aramco's in-Kingdom and worldwide partners across the supply chain to maintain their commitment to invest in the Kingdom and leverage the huge opportunities for growth of businesses, resources and utilise the available local skills.

"This agreement demonstrates KBR's dedication to meeting and exceeding localization objectives and supporting the Kingdom in developing human capital within engineering and project management," Stuart Bradie, KBR president and CEO, has been quoted as saying in a press release.

"The Kingdom of Saudi Arabia remains a key market for KBR's global energy and hydrocarbons business and we are committed to implementing our lessons learned from successful localisation initiatives in other geographies and replicating those successes in-Kingdom."

KBR has partnered with clients around the world to create successful local training programs, while employing qualified local nationals on projects. KBR continues to expand upon these efforts in the Kingdom.

For example, KBR provided engineering, design, project management, operations and maintenance services for the Sadara project in Jubail, the largest petrochemical complex ever built in a single phase. This project alone created thousands of jobs for both Saudi and US engineers, project managers, and other employees.

"Partnership is in KBR's DNA and we are proud of our long track record of partnership with Saudi Aramco in training and employing local resources. Our legacy of job creation for locals in-Kingdom, including using local fabrication and suppliers on our projects, helps Saudi citizens build sustainable employment, not just for one project but throughout their life and careers – bringing added value to local projects and the national economy," Bradie added.


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