U.S. engineering and construction services firm KBR has entered into a memorandum of understanding (MoU) with Saudi Aramco to expand and develop its services for the Saudi oil company.
KBR said on Wednesday that the deal with Saudi Aramco was in line with the Kingdom of Saudi Arabia’s localization objectives.
The MoU will see KBR aid Saudi Aramco’s In-Kingdom Total Value Add (IKTVA) initiative that aims to double the percentage of locally produced energy-related goods and services to 70 percent of the total spent by 2021.
Stuart Bradie , KBR president and CEO, said: “This agreement demonstrates KBR’s dedication to meeting and exceeding localization objectives and supporting the Kingdom in developing human capital within engineering and project management.
“The Kingdom of Saudi Arabia remains a key market for KBR’s global energy and hydrocarbons business, and we are committed to implementing our lessons learned from successful localization initiatives in other geographies and replicating those successes in-Kingdom.”
The engineering firm added that it continued to employ local nationals on projects within the Kingdom such as the engineering, design, project management, operations and maintenance services for the Sadara project in Jubail.
KBR dubbed the project as the largest petrochemical complex ever built in a single phase. This project alone created thousands of jobs for both Saudi and U.S. engineers, project managers, and other employees.
“Our legacy of job creation for locals in-Kingdom, including using local fabrication and suppliers on our projects, helps Saudi citizens build sustainable employment, not just for one project but throughout their lives and careers – bringing added value to local projects and the national economy,” added Bradie.