Riyadh, Feb 12, 2026, 22:20 (GMT+3)
- Saudi Aramco reported its iktva program hit 70% local content in procurement—an important supply-chain milestone.
- By 2030, the company is aiming for 75% local content.
- Aramco puts iktva’s contribution to Saudi GDP at more than $280 billion, with $9 billion in inward investment pulled in, according to the company.
Saudi Aramco reported that its iktva programme—short for In-Kingdom Total Value Add—has reached a 70% local-content milestone, representing the proportion of goods and services sourced domestically. The oil giant now aims to push that number up to 75% by 2030.
Saudi Arabia’s latest milestone comes as the kingdom presses major clients to ramp up manufacturing inside its borders, part of its Vision 2030 strategy aimed at dialing back its oil reliance. Aramco rolled out iktva back in 2015, seeking to funnel more of its procurement budget into domestic industry and ramp up local capacity.
Aramco says iktva has added over $280 billion to Saudi Arabia’s GDP—a sweeping tally of economic activity—and has pulled in some $9 billion in inbound investment. The company also attributes more than 200,000 jobs, both direct and indirect, to the program. To keep things moving, iktva hosted eight supplier forums across the globe in 2025, in addition to its biennial event.
Aramco says its programme has identified over 200 localisation plays spanning 12 industries in the last ten years, tapping into a yearly market worth around $28 billion. Since launch, more than 350 investments have come in from firms hailing from 35 countries, and 47 strategic products got their first domestic production. CEO Amin H. Nasser described iktva’s impact as “transformational,” adding it helps “ensure operational reliability.” Arab News
Local content isn’t about headcount—it’s tracked by spending. Foreign suppliers, looking to secure contracts, typically have to collaborate with Saudi companies, move parts of their production, or build out local services.
Still, Aramco flagged plenty of uncertainty around its targets and strategy, pointing to possible shifts driven by oil prices, economic trends, regulation, and rivals. Actual outcomes might end up far from current projections, the company warned.
The effort puts pressure on local suppliers too. Setting up a homegrown supply chain for intricate oil and gas equipment isn’t quick—any hold-ups or quality issues tend to hit project timelines fast.
Aramco isn’t the only player turning to procurement to overhaul its list of suppliers. Abu Dhabi’s ADNOC, for example, has its own In-Country Value programme, set up to increase local spending, expand the pool of homegrown suppliers, and build up domestic talent.
The focus for Aramco now turns to speed—how fast fresh capital lands in those priority sectors, and if the upcoming facilities can actually hit cost targets when operations begin. Suppliers are eyeing the timeline from that current 70% mark up to the 2030 ambition.
Aramco’s procurement drive is now baked into Saudi industrial policy, and with the 75% target, the bar’s been set higher still. Manufacturers aren’t only watching sales—they’re sizing up what Saudi capacity can deliver.
