Our In-Kingdom Total Value Add (iktva) program is designed to drive supply-chain efficiency and value across our operations, and to encourage the development of a diverse, sustainable, and globally competitive energy sector in the Kingdom.
Through iktva we are building a world class supply chain to support our needs and the needs of our partners. In 2019, the iktva metric reached 56%, and the goal of the program is to increase the amount of goods and services procured in the Kingdom to 70 percent by 2021.
A world-class energy supply chain in the Kingdom will enhance our business climate — and generate new opportunities for us to operate even more efficiently and cost effectively. Localization also promotes economic development and diversification, as we work to double the production of local energy goods and services and increase their export.
As well as driving domestic value creation, iktva prioritizes consistency and transparency to create a level playing field for more than 1000 suppliers we are engaged with across our local and international network.