ANNOUNCEMENT 13 Dec 2017

The Saudi state-owned oil firm Saudi Aramco signed a MoU with the Canadian-based SNC-Lavalin. The core scope of this MoU is to strengthen Saudi Aramco's capability to reach their IKTVA program-related deliverable targets i.e. to procure most of their goods and services locally.

NUMBER OF INTERVENTIONS

1

  • 1 harmful
  • 0 neutral
  • 0 liberalising

SOURCE

SNC Lavalin Official Press Release. English. 2017. SNC-Lavalin and Saudi Aramco sign MoU supporting in-country opportunities.http://www.snclavalin.com/en/media/press-releases/2017/snc-lavalin-saudi-aramco-sign-mou-supporting-in-country-opportunities.aspx

Hydrocarbons Technology. Aramco signs MoU with SNC-Lavalin for localisation of opportunities. English. https://www.hydrocarbons-technology.com/news/aramco-signs-mou-snc-lavalin-localisation-opportunities/

Arabian Oil and Gas. SNC-Lavalin, Saudi Aramco sign MoU boosting in-country opportunities.http://www.arabianoilandgas.com/article-18151-snc-lavalin-saudi-aramco-sign-mou-boosting-in-country-opportunities/

Inception date: 13 Dec 2017 | Removal date: open ended
Still in force

Localisation incentive

On 13 December 2017, Saudi Aramco as part of its  In Kingdom Total Value Addes (IKTVA) program signed a Memorandum of Understanding with the Canadian-based entity SNC Lavalin.  IKTVA is a program established in 2015 and its primary scope is to achieve 70% localisation of Saudi Aramco's supply chain by 2021 (see related measure).

SNC-Lavalin is a global fully integrated professional services and project management company providing solutions in the area of capital investment, consulting, design, engineering, construction, operations and maintenance. Under the umbrella of this MoU, SNC Lavalin has committed to an action plan to support the overall IKTVA framework and the localisation target deliverables which are embedded in it. Therefore, leading towards SNC Lavalin via its operations in Saudi Arabia further contributing to developing local talent and creating opportunities for the local supply chain of Saudi Aramco. 

AFFECTED PRODUCTS

 
N/A