SNC-Lavalin has announced that it has signed a memorandum of understanding (MoU) with Saudi Aramco. The MoU supports Saudi Aramco’s In-Kingdom Total Value Add (IKTVA) program, which applies to the firm’s suppliers and is focused on the localisation of oilfield services and the equipment value chain.
The program is designed to diversify the Saudi economy and transfer skills, technologies and knowledge through training and development, while simultaneously creating new jobs for the growing Saudi population.
“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 Saudisation efforts and on ground presence,” explained Neil Bruce, president & CEO of SNC-Lavalin, who was present for the signing.
Bruce added that the agreement reflects his firm’s long-term commitment to the region and demonstrates the value and continued trust SNC-Lavalin has in Saudi Aramco. The MoU is expected to provide a platform to accelerate the firm’s ongoing efforts to meet and exceed the objectives mandated within the IKTVA program.
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.”