KBR Inc (KBR) has entered into a memorandum of understanding (MoU) with Saudi Aramco to expand and develop KBR's services for Saudi Aramco in line with the Kingdom of Saudi Arabia's (KSA) localization objectives.
The MoU and initiative is in line with Saudi Aramco's In-Kingdom Total Value Add (IKTVA) initiative that aims to double the percentage of locally produced energy-related goods and services to 70 percent of the total spent by 2021.
The MoU also seeks to encourage Saudi Aramco's in-Kingdom and worldwide partners across the supply chain to maintain their commitment to invest in the Kingdom and leverage the huge opportunities for growth of businesses, resources and utilize the available local skills.
"This agreement demonstrates KBR's dedication to meeting and exceeding localization objectives and supporting the Kingdom in developing human capital within engineering and project management," said Stuart Bradie, KBR president and CEO.
KBR Inc (KBR) has entered into a memorandum of understanding (MoU) with Saudi Aramco to expand and develop KBR's services for Saudi Aramco in line with the Kingdom of Saudi Arabia's (KSA) localization objectives.
The MoU and initiative is in line with Saudi Aramco's In-Kingdom Total Value Add (IKTVA) initiative that aims to double the percentage of locally produced energy-related goods and services to 70 percent of the total spent by 2021.
The MoU also seeks to encourage Saudi Aramco's in-Kingdom and worldwide partners across the supply chain to maintain their commitment to invest in the Kingdom and leverage the huge opportunities for growth of businesses, resources and utilize the available local skills.
"This agreement demonstrates KBR's dedication to meeting and exceeding localization objectives and supporting the Kingdom in developing human capital within engineering and project management," said Stuart Bradie, KBR president and CEO.
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