Saudi Aramco awards offshore security contract to General Dynamics

07/12/2017 Argaa

 

Saudi Aramco has awarded an offshore security contract to the local subsidiary of US-based General Dynamics, Reuters reported on Wednesday.

 

The value of the deal was not specified.

 

Industry sources told the agency in July that the contract involves installing “long-range integrated security systems at nine offshore sites in the Gulf”. 

 

General Dynamics will be working with Saudi Binladin Group on the project.  

 

Other bidders for the contract were US-based Raytheon Co, Germany’s Rheinmetall AG, and Leonardo’s Selex ES Saudi Arabia. 

 

Saudi Aramco has been signing deals with foreign firms that have established local manufacturing operations, as part of its In-Kingdom Total Value-Add program (IKTVA). 

 

Under IKTVA, Aramco aims to double the percentage of locally-produced energy-related goods and services to 70 percent by 2021, and to export 30 percent of energy goods and services produced in the Kingdom over the same time frame.

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