IKTVA
We support the long-term vitality of our commercial ecosystem. In particular, being a catalyst for the development of a Saudi energy services sector helps attract, establish, and promote domestic energy-related industries that are globally competitive.
We also encourage and support the development of other enterprises that have strategic importance to us. A flourishing commercial and industrial ecosystem in the Kingdom means a more successful Saudi Arabia and a more productive environment for our company.
In-Kingdom Total Value Add (iktva)
Our In-Kingdom Total Value Add (iktva) program is designed to drive supply-chain efficiency and value across our operations, and to encourage the development of a diverse, sustainable, and globally competitive energy sector in the Kingdom.
Through iktva we are building a world class supply chain to support our needs and the needs of our partners. We strives to cultivate local business with the goal to retain 70% of all procurement spend in-Kingdom. Iktva’s proven success model has become the cornerstone for the Local Content and Government Procurement Authority localization model, which will accelerate the maturity of the Kingdom’s industrial ecosystem across all sectors. This model has attracted more than 450 investments. From Jazan Economic City to the King Salman International Complex for Maritime Industries & Services, iktva has created an ecosystem of integrated value chains to help businesses hit the ground running in Saudi Arabia.
The iktva program has demonstrated the benefits of creating successful partnerships with business, government, and academia. It also increases the Company’s competitiveness, drives industry collaboration and brings innovation to the Kingdom through research and development. The synergy driven by the iktva program has delivered greater levels of prosperity for the Kingdom, the local business community, and Aramco.
iktva is one of our prominent strategies to advance the development of the energy services sector in the Kingdom.
1.5 trillion
Saudi Riyals to be spent on iktva program in next 10 years
70%
the amount Saudi Aramco seeks to increase local content by 2025
400
local and international companies in the energy sector currently engaged in iktva
486
investment from more than 25 countries with an estimated capital of USD 6.5 billons
360,000
trainees prepared for labor market by 2030
1,000
companies with more than 4,000 participants from 40 countries attending the annual forum and exhibition
Small and medium enterprises
Small and medium enterprises (SMEs) are a special iktva focus. The backbone of thriving economies everywhere, SMEs are the dynamic drivers of innovation and competition.To harness their vital contributions, iktva connects major suppliers with SMEs to help small businesses grow.
"SMEs are the engines of innovation for economic growth and development. They have the flexibility, know-how and experience in the market. They also have the products that the oil and gas industry needs."
President and CEO, Amin H. Nasser
How to participate in iktva
iktva participation is essentially a two step process:
iktva baseline: using the iktva survey completed by you, we measure and identify your company’s current iktva score.
Action plan: once the baseline has been identified, your company and Saudi Aramco can work together to develop a 5-year iktva action plan to improve your iktva ratio.
The iktva process: what do you need to do to participate in iktva?
complete the iktva survey
read the guidelines and complete the survey available in our resources area below to determine your iktva baseline ratio
survey certification
get your completed survey certified by one of our listed audit firms
submit for review
submit your certified survey documents to us for review
develop your action plan
once certified you can use your iktva scoring as a starting point to develop your 5-year action plan, using the guides provided in the resources section below
iktva website
You can find out more about participating in iktva via our dedicated website.
iktva Forum and Exhibition
Our iktva forum is the leading global energy supply chain event, hosting multiple sectors, local and international, small and large, and attracting influential executives and global industry leaders.
The forum and exhibition provides a platform for companies interested in establishing operations in Saudi Arabia to engage with the Kingdom’s energy sector stakeholders and their key suppliers. It is an opportunity for Saudi Aramco’s partners to get together and take stock of the positive impact of the program to drive, support, and accelerate investments and operations. Companies interested in establishing operations in Saudi Arabia get to engage with the Kingdom’s energy sector stakeholders and key suppliers.
A broad spectrum of local and international investors are brought together to explore investment opportunities. Experts and specialists from various industries and companies contribute to dynamic panel discussions, presentations, workshops, and seminars. The event also offers an opportunity for collaboration and engagement between companies in the energy sector supply chain.
Attendees have an opportunity to interact with a range of companies who have either established operations in Saudi Arabia, or are in the process of doing so. Many of Saudi Aramco’s major suppliers are present, and are themselves driving the localization of their own supply chains.
Suppliers
Our goal is a world-class supply chain, with mutually beneficial supplier relationships for greater value and continued growth.