Saudi Aramco signs agreements with range of American companies

Saudi Aramco has signed agreements with a number of major US companies which will pave way for the company to enhance its business synergy with the US as well as attracting investments from its US counterparts to the Kingdom.

The agreements were signed in Riyadh in the presence of The Custodian of The Two Holy Mosques King Salman Bin Abdulaziz Al Saud and US President Donald Trump. President Trump’s visit to Saudi Arabia also includes a business summit attended by Saudi and US chief executives, to further cement the strong historic relations between the Kingdom and the US.

The agreements were signed by Saudi Aramco President and CEO Amin H. Nasser and his U.S. counterpart.

“The agreements signed today by Saudi Aramco with major American companies underscore the purposeful collaboration between Saudi Arabia and the United States in areas of strategic importance linking Saudi Vision 2030 and America’s own economic depth and strength,” he said.

The agreement which are estimated to be around $50bn highlights the magnitude of strategic growth and diversification underway at Saudi Aramco, including strengthening the company’s standing as the world’s leading energy and chemicals company and focus on local capacity building of its technical expertise and workforce.

Companies that signed or updated agreements are: JV with Jacobs Engineering; JV with National Oilwell Varco (NOV); Broader Oil & Gas Investment Feasibility Study MOU with GE; MOU with GE; MOU (updated) with Rowan; MOU (updated) with Nabors; MOU with McDermott; MOU with Honeywell; MOU with Schlumberger; MOU with Halliburton; MOU with Weatherford; MOU with Baker Hughes and MOU with Emerson.

For more information visit www.saudiaramco.com

23rd May 2017