Aramco signs $3.7B deals with French companies

Saudi Aramco signed agreements and a memorandum of understanding (MoU) with French companies, with a potential total value exceeding $3.7 billion (approximately SAR 13.8 billion).

The agreements, signed by Saudi Aramco and Aramco Digital during the French-Saudi Investment Roundtable, was attended by Aramco President and CEO Amin H. Nasser.

The partnerships focus on supporting projects, developing capabilities, transferring technology and innovation, and enhancing supply chain resilience. They include a corporate procurement agreement for drilling equipment, as well as a procurement agreement for oil and gas sector pipes.

The MoU with Aramco Digital seeks to establish a potential cooperation framework in industrial AI and virtual/digital twin technologies, including potential applications in the oil and gas sector.

Aramco expects these joint efforts to strengthen its supply chain ecosystem, improve business continuity and efficiency, and advance industrial AI and digital technologies.