Gulf Oil and Gas accountACCOUNT

Wood and Saudi Aramco Sign MoU Supporting In-country Opportunities

Source: www.gulfoilandgas.com 11/29/2017, Location: Middle East

Share |
Wood has entered into a Memorandum of Understanding (MoU) with Saudi Aramco, signalling its continued commitment to creating and accelerating opportunities for local workforces in the Kingdom of Saudi Arabia.

The MoU supports Saudi Aramco’s In-Kingdom Total Value Add (IKTVA) initiative, which is part of the Kingdom’s Vision 2030 plan; focused on strengthening and diversifying the Saudi economy through the localisation of key manufacturing and service industries within the Kingdom, and the creation of thousands of new jobs for talented young Saudi citizens.

Robin Watson, chief executive of Wood, said: “Wood has been operating in the Kingdom of Saudi Arabia for many years, with a clear commitment to developing local talent and creating opportunities for the state’s supply chain. In recent years, our presence has grown rapidly, in large part due to our ongoing Saudization efforts.

“We are proud to sign this agreement, which reflects our long-term commitment to the region, our valued and trusted relationship with Saudi Aramco and provides a platform to accelerate our ongoing efforts to meet and exceed the objectives set within the IKTVA initiative.”

The MoU was signed on November 23, 2017.

Investment News in Saudi Arabia >>

Cuba >>  10/8/2018 - Melbana Energy has signed a non-binding Letter of Intent (LOI) with Anhui Guangda Mining Investment ('AGMI') with respect to its Block 9 Production Sh...
Norway >>  10/8/2018 - Equinor has reduced the estimated investments for operated projects in the development phase on the Norwegian continental shelf by some NOK 30 billion...

Canada >>  10/2/2018 - Shell Canada Energy, an affiliate of Royal Dutch Shell plc, has taken a final investment decision (FID) on LNG Canada, a major liquified natural gas (...
Pakistan >>  9/29/2018 - Qatar Petroleum President and CEO Saad Sherida Al-Kaabi held talks in Islamabad with H.E. Mr. Imran Khan, the Prime Minister of the Islamic Republic o...

United States >>  9/25/2018 - Bayport Polymers, LLC a 50/50 joint venture owned by Total S.A. (“Total”) and Novealis Holdings LLC, itself a joint venture of Borealis AG (“Borealis”...
Saudi Arabia >>  9/17/2018 - State oil giant Saudi Aramco will spend more than 500 billion riyals ($133 billion) on oil and gas drilling over the next decade, a senior company exe...

Related Categories: Accounting, Statistics  Acquisitions and Divestitures  Asset Portfolio Management  Economics/Financial Analysis  General  Industrial Development  Insurance  Investment  Mergers and Acquisitions  Risk Management 

Related Articles: Accounting, Statistics  Acquisitions and Divestitures  Asset Portfolio Management  Economics/Financial Analysis  General  Insurance  Investment  Mergers and Acquisitions  Risk Management 


Saudi Arabia Oil & Gas 1 >>  2 | 3 | 4 | 5 | 6 | 7 | 8 | 9 | 10 | 11 | 12 | 13 | 14 | 15 | 16 | 17 |

More News

 

Oil & Gas Companies in Saudi Arabia >>


Related Links

Gulf Oil and Gas
Copyright © Universal Solutions All rights reserved. - Terms of Service - Privacy Policy.