Wood, Saudi Aramco sign MoU supporting in-country opportunities


ABERDEEN -- Wood has entered into a Memorandum of Understanding (MoU) with Saudi Aramco, signalling its continued commitment to creating and accelerating opportunities for local workforces in the Kingdom of Saudi Arabia.

The MoU supports Saudi Aramco’s In-Kingdom Total Value Add (IKTVA) initiative, which is part of the Kingdom’s Vision 2030 plan; focused on strengthening and diversifying the Saudi economy through the localization of key manufacturing and service industries within the Kingdom, and the creation of thousands of new jobs for talented young Saudi citizens.

Robin Watson, chief executive of Wood, said: “Wood has been operating in the Kingdom of Saudi Arabia for many years, with a clear commitment to developing local talent and creating opportunities for the state’s supply chain.  In recent years, our presence has grown rapidly, in large part due to our ongoing Saudization efforts."

The MoU was signed on Nov. 23, 2017.

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