Saudi Aramco’s iktva program reaches 70% local content milestone

Riyadh, February 12, 2026 (Saudi Arabia Breaking News) – Saudi Aramco announced that its supply chain transformation program, iktva (In-Kingdom Total Value Add), has reached a milestone of 70% local content. The company plans to increase this to 75% by 2030.

Since its launch, the iktva program has contributed more than $280 billion to Saudi Arabia’s gross domestic product, supporting industrial development, economic diversification, and financial resilience. The initiative has strengthened the reliability and continuity of Aramco’s supply chains and helped mitigate global cost inflation.

Aramco President and CEO Amin Nasser said the program is central to building a competitive national industrial ecosystem that supports the energy sector, creates jobs for Saudi nationals, and drives broader economic growth. Over the past decade, iktva has identified more than 200 localization opportunities across 12 key sectors, leading to over 350 investments from 35 countries and enabling the domestic production of 47 strategic products for the first time.

The program has also contributed to the creation of more than 200,000 direct and indirect jobs nationwide. In 2025, eight regional supplier forums were organized globally, connecting investors and manufacturers with localization opportunities in Saudi Arabia.