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Wood and Saudi Aramco Sign MoU Supporting In-country Opportunities

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

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.

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


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