The Ministry of Energy, in partnership with Aramco, Saudi Electricity Company (SEC), and SABIC, will organize the "Energy Localization Forum" on October 23 and 24, 2024, under the theme "Resilient Energy: Enabling Energy Sector Capability and Sustainability.". The forum aims to reinforce the Kingdom's leadership in global energy markets and across different energy fields while highlighting the Kingdom’s role in ensuring the security and sustainability of global energy supplies and the resilience of supply chains to meet global energy demand.
The event, part of the efforts to achieve the sector’s goal of reaching a 75% localization rate in alignment with Vision 2030, will convene high-ranking government officials, executive leaders from both local and international private sectors, energy experts, decision-makers, investors, and global partners. It will feature interactive discussion panels, dialogue sessions, and workshops, as well as the signing of several memoranda of understanding and agreements.
The forum will showcase the integrated efforts within the government ecosystem to localize the energy sector. It will also highlight the crucial role of energy localization in fostering a sustainable future, creating new job opportunities, enhancing national economic growth, encouraging both local and foreign investment, providing unique opportunities for businesses prosperity, and empowering entrepreneurs and positioning them as key players in the rapidly expanding energy sector. The forum will also explore investment opportunities and support innovation within the energy sector.
Energy sector localization programs play a pivotal role in enhancing the national value chain by promoting local content, generating high-value job opportunities in advanced energy industries, and localizing equipment, procurement, services, and projects development and implementation across various areas, including oil and gas, utilities, electricity, renewable energy, petrochemicals, hydrogen, carbon management, and the maritime sector.
