Gulf Oil and Gas accountACCOUNT

SNC-Lavalin and Aramco Sign MoU Supporting In-country Opportunities

Source: www.gulfoilandgas.com 12/13/2017, Location: Middle East

Share |
SNC-Lavalin and Saudi Aramco signed a Memorandum of Understanding (“MoU”) signalling SNC-Lavalin’s 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”) program, which applies to Saudi Aramco suppliers and drives the localization of oilfield services and equipment value chain, to strengthen and diversify the Saudi economy; transfer technologies, skill and knowledge through training and development; and create thousands of new jobs for the growing Saudi population.

Neil Bruce, President & Chief Executive Officer of SNC-Lavalin, was present for the signing, and said: “SNC-Lavalin has been operating in Saudi Arabia for over 40 years, with a clear commitment to developing local talent and creating opportunities for local supply chain. In recent years, our presence has grown rapidly, in large part due to our ongoing Saudization efforts and on ground presence.”

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

Christian Brown, President, Oil & Gas, SNC-Lavalin, added: “Our work for Saudi Aramco is of great importance to us; we have close to 10,000 team members working in the country and putting in place such a framework around iktva means we can continue to grow and execute additional scopes on behalf of Saudi Aramco. Our presence, scale and experience in the region mean we are well placed to implement this, and we see strong demand for similar initiatives supporting economies and social development in our active bidding.”

Investment News in Saudi Arabia >>

Morocco >>  6/11/2018 - The World Bank announced US$125 million in additional support for Morocco’s adoption of innovative solar technology, as part of the national goal of d...
Algeria >>  6/4/2018 - Algeria has hired U.S. law firm Curtis, Mallet-Prevost, Colt & Mosle LLP and other consultancies to help with a new energy law aimed at attracting muc...

Scotland >>  5/30/2018 - First Minister Nicola Sturgeon announced £4.9 million in funding as part of a £31 million investment being made by Baker Hughes, a GE company (BHGE), ...
Angola >>  5/28/2018 - Total and its partners have taken the final investment decision to launch the Zinia 2 deep offshore development in Block 17, 150 kilometers offshore A...

Egypt >>  5/23/2018 - Supporting the modernisation of Egypt’s oil industry, the EBRD is providing a US$200 million for major investments in energy efficiency and refurbishm...
Iran >>  4/20/2015 - Two British companies are gathering information about how to invest in Iran, managing-director of Iran Industries Investment Company said. ...

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.