Aramco’s local content up to 67% of total purchases: CEO

Amin Nasser, CEO of Saudi Aramco

Saudi Aramco’s local content reached 67% of its total purchases compared to about 35% in 2015, when the In-Kingdom Total Value Add (iktva) program was launched, President and CEO Amin Nasser said.

Speaking at the iktva Forum today, Jan. 13, Nasser stated that the iktva program has made a significant contribution to Saudi Arabia's gross domestic product, reaching an estimated value of SAR 900 billion ($240 billion) since its launch.

The iktiva program brings continuity to Saudi Aramco, as large local supply chains provide the ability to navigate operational challenges.

He noted that this was evidenced by the company's rapid recovery from the attacks on its Abqaiq and Khurais facilities and the challenges posed by the COVID-19 pandemic.