Commercial ecosystem

Sustainable business operations

We support the long-term vitality of our commercial ecosystem. In particular, being a catalyst for the development of a Saudi energy services sector helps attract, establish, and promote domestic energy-related industries that are globally competitive.

We also encourage and support the development of other enterprises that have strategic importance to us. A flourishing commercial and industrial ecosystem in the Kingdom means a more successful Saudi Arabia and a more productive environment for our company.

iktva

Our In-Kingdom Total Value Add (iktva) program is designed to drive supply-chain efficiency and value across our operations, and to encourage the development of a diverse, sustainable, and globally competitive energy sector in the Kingdom. Through iktva we are building a world class supply chain to support our needs and the needs of our partners. The goal of the program is to increase the amount of goods and services procured in the Kingdom to 70 percent by 2021.

A world-class energy supply chain in the Kingdom will enhance our business climate — and generate new opportunities for us to operate even more efficiently and cost effectively. Localization also promotes economic development and diversification, as we work to double the production of local energy goods and services and increase their export.

As well as driving domestic value creation, iktva prioritizes consistency and transparency to create a level playing field for more than 1000 suppliers we are engaged with across our local and international network.

IKTVA is one of our prominent strategies to advance the development of the energy services sector in the Kingdom.

1.5 trillion
Saudi Riyals to be spent on IKTVA program in next 10 years
70%
the amount Saudi Aramco seeks to increase local content by end of 2021
400
local and international companies in the energy sector currently engaged in IKTVA
360,000
trainees prepared for labor market by 2030

Small and medium enterprises

Small and medium enterprises (SMEs) are a special iktva focus. The backbone of thriving economies everywhere, SMEs are the dynamic drivers of innovation and competition.

SMEs are the engine of innovation for economic growth and development. They have the agility, the know-how, the market expertise, and the products the oil and gas industry requires.

Saudi Aramco President & CEO Amin H. Nasser

To harness their vital contributions, iktva connects major suppliers with SMEs to help small business grow.  This strategy closely aligns with Vision 2030’s target of 35 percent GDP contribution by this sector, helping position Saudi Arabia as an attractive business destination with significant on-going investment and a wide project pipeline.

iktva Forum and Exhibition

Our iktva forum is the leading global energy supply chain event, hosting multiple sectors, local and international, small and large, and attracting influential executives and global industry leaders.

The event provides a platform for companies interested in establishing operations in Saudi Arabia to engage with the Kingdom’s energy sector stakeholders and their key suppliers.