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11 Jun 2019
The 'Oil & Gas supply chain opportunities in Saudi Arabia’ conference, organised by Aramco and the Basque Energy Cluster, was held on Tuesday 11 June at the Euskalduna Conference Centre in Bilbao. The event offered a comprehensive overview of business opportunities for companies working with Aramco, a world leader in energy and petrochemicals, particularly highlighting challenges that may be addressed by those undertaking investment projects in Saudi Arabia.
Iñigo Ansola, General Manager of the Basque Energy Agency, opened the session and Talal Al-Marri, President and CEO of Aramco Overseas Company, gave the keynote speech. Next, José Ignacio Hormaeche, Managing Director of the Basque Energy Cluster, offered an overview of the Basque energy sector and Mr. Mahmood Basurrah, director of the Saudi Arabian Investment Authority, explained the policies in the industrial equipment segment.
The main presentations of the day were made by experts from Aramco, who provided the keys to the various ways and programmes to address the opportunities for collaboration with the Arab oil company. Among them, emphasis was placed on the "In-Kingdom Total Value Add" (IKTVA) programme, aimed at promoting local content through globally renowned strategic suppliers. Towards the end of the presentations, a representative of the company ARFLU shared their recent investment experience in Saudi Arabia.
After the conference, a space was set aside for the companies in the value chain to hold bilateral meetings with the representatives of Aramco in order to establish contact and identify future opportunities for collaboration.
The Basque Country has one of the largest concentrations of Oil&Gas suppliers in Europe, with several world reference companies. Basque companies are developing their industrial and technological capacities with the aim of facing to the challenges and specific needs of the upstream, midstream and downstream market segments, thus improving their positioning in the value chain. More information about the Oil&Gas sector in the Basque Country in the catalogue.
Keyword
Innovation
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