In-Kingdom Total Value Add (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.

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. In 2019, the iktva metric reached 56%, and the goal of the program is to increase the amount of goods and services procured in the Kingdom to 70 percent by 2021.

A world-class energy supply chain in the Kingdom will enhance our business climate — and generate new opportunities for us to operate even more efficiently and cost effectively. Localization also promotes economic development and diversification, as we work to double the production of local energy goods and services and increase their export.

As well as driving domestic value creation, iktva prioritizes consistency and transparency to create a level playing field for more than 1000 suppliers we are engaged with across our local and international network.

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 business grow. This strategy closely aligns with Vision 2030’s target of 35 percent GDP contribution by this sector, helping position Saudi Arabia as an attractive business destination with significant on-going investment and a wide project pipeline.

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.

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.