Riyadh – Mubasher: A number of local investors are looking forward to establishing a 100% Saudi giant drilling company that will compete with firms working with Aramco like Schlumberger, an official at the in-Kingdom Total Value Add Programme (IKTVA) said.
The IKTVA official, Omran Al Hariri, added to Al Yaum newspaper that the annual expenditures of Aramco amount to SAR 140 billion, including SAR 2 billion allocated for consumption materials used in the drilling processes which are all being imported.
The IKTVA targets the nationalisation of at least 50% of these materials by 2020, either by nationalising the industries or finding replacements, Al Hariri noted.
