Home

In-country value

Our model of local execution to global standards sets us apart. In-country value (ICV) allows us to create local supply chains that allow small and medium-sized enterprises (SMEs) to flourish, upskill and train local workforces, and implement community programmes that leave a positive and lasting impact beyond the assets we build and operate.

ICV

Our competitive advantage

As well as being the right thing to do, we see the creation of in-country value as a source of competitive advantage. It helps us operate globally and bid on challenging projects, while benefiting from the economies of delivering locally.

53%
ICV spend in 2020

Our approach to ICV

ICV is central to the way we operate and goes beyond our contractual or regulatory requirements. It is one of the focal points of our ESG strategic framework and we aim for sector-leading local delivery.

We continue to procure a large proportion of goods and services from local vendors and suppliers, support a significant number of local jobs, and work to enhance the capabilities of local people. While some governments require us to do this, we typically go beyond our contractual and regulatory obligations regarding local content.

Petrofacts

Creation of ICV at

Ghazeer

Read the article

Building on strong ICV foundations

Proud of the work that we have done so far, we will continue to strengthen our ICV programmes, extending our collaboration with local communities, supply chains and governments to nurture and grow sustainable economies and create shared value.

These are the ICV goals we set ourselves over the coming period:

  • Enhance the Group ICV strategy, plan and process of assessment, promoting better alignment with evolving national objectives
  • Enhance consistent integration of ICV into business development, contract strategy/ delivery and external communications
  • Establish a ‘community of practice’ to develop ICV good practice notes, implementation guidance, and tools
  • Continue to support local SMEs and facilitate their engagement with main sub-contractors
  • Maintain focus on expanding our ICV in core countries