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Publish Date : 11-May-2018

Saudi Aramco has expanded its value added program for the supply sector and has strengthened its relationship with the local industrial sector by signing purchase agreements with 16 Saudi companies for the manufacture of pressure vessels with a total value exceeding SR 26 billion within 10 years. The agreements emphasize Saudi Aramco's commitment to supporting and enhancing the role of local SMEs in a program that is aligned with the Kingdom's Vision 2030. The purchase agreements signed in early May will focus on local manufacturers supplying Saudi Aramco with pressure vessels, Its capabilities and competitiveness, as one of the objectives of the "satisfied" program.

Saudi Aramco's Vice President for Procurement and Logistics, Abdul Aziz Abdul Karim, commended the manufacturing companies for developing solid work plans to meet the requirements of a program designed to create more jobs for Saudis and provide greater opportunities for small and medium enterprises to work in the manufacture of pressure vessel parts, To work together with Saudi Aramco to increase Saudization under these agreements at all levels and in all disciplines to include engineers, welders and other skilled personnel. He pointed out that these long-term agreements will contribute to increasing the potential of the local industrial sector and provide Saudi Aramco with high quality materials and services, indicating that the Sufaat program is the cornerstone of the Saudi Aramco procurement process. It will accelerate the pace of Emiratisation, enhance investment opportunities for local SMEs. Diversifying the sources of the economy in line with the vision of the Kingdom 2030.

Abdul-Karim added that SMEs are the engine of innovation towards the growth and development of the economy, because it possesses the ability to adapt, knowledge and experience in the labor market, and the products it needs Oil and gas sector. Saudi Aramco recognizes the great potential of small and medium-sized companies, and we believe in the ability of the companies signed with them to meet this challenge and to achieve the desired result. Pressure vessels are a major set of equipment for oil and gas processing plants that require manufacturing potential and high skilled skills. Saudi Aramco expands its requirements to include purchases of strategic materials such as drilling equipment, process automation systems, pipeline vessels, pumps and valves. Saudi Aramco is the world's leading integrated company in the field of energy and chemicals. The company produces a barrel of every eight barrels of oil supplies in the world while it continues to develop new energy technologies. Saudi Aramco sets its sights on the reliability and sustainability of its resources, Promoting stability and long-term growth around the world.

The program is one of the leading models in the vision of the Kingdom 2030 and aims to achieve 70% of the local content in the industry and services in the energy sector by 2021. The program promotes Saudi Aramco's quest to develop a globally accessible and accessible supply and supply system, With a high level of reliability and an advanced level of innovation, to achieve its strategic goal of becoming the world's leading integrated energy and chemical company. The program also offers a new level of equal opportunities for local and international suppliers to meet Aramco contracts. Saudi Arabia, a strong boost to the localization of jobs and industry.

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