Saudi Arabia: Saudi Aramco signs multiple Memorandum of Understanding agreements with American companies under the framework of its IKTVA program

The Saudi state-owned oil firm Saudi Aramco signed several Memorandum of Understanding Agreements with a number of American-based entities. These agreements were signed under the umbrella of Saudi Aramco´s IKTVA program. Consequently, their main scope is to strengthen Saudi Aramco's capability to procure most of its goods and services locally i.e. from within the borders of the Saudi jurisdiction.