Aramco’s local content from procurement reaches 63% currently: Nasser

Amin Nasser, President and CEO of Saudi Aramco

Saudi Aramco’s local content from procurement reaches 63% currently, said the company’s President and CEO Amin Nasser.

In his speech to iktva Forum & Exhibition 2023, Nasser added that the oil giant aims to increase the percentage of local content from procurement to 70% by 2025.   

The current year will be transformative for Aramco’s supply chains for three reasons, including Namaat program which complements iktiva program, as well as insistence on making the localization of the oil giant’s supply chains and investments in the Kingdom more sustainable. This is in addition to the fact that Saudi Arabia is one of the fastest growing economies in the world. 

The oil giant will focus on using more sustainable materials, such as those based on polymers, to complement high-emissions industries that are difficult to mitigate such as steel, aluminum and concrete.