Saudi Aramco concludes five MOUs with Russia s largest energy company

Saudi Aramco's CEO Eng. Ameen bin Hussein Al-Nasser today signed five MOUs with Russia's largest energy company on the sidelines of the Saudi Russian Investment forum, co-organized by the Saudi general investment authority, Saudi chambers of commerce and Direct Investment Fund of Russia.

The MOU paves the way for Saudi Aramco to enter a new era of obtaining an added value in the northern hemisphere zone.

Aramco signed another MOU with Gazprom, Russia's gas giant, enabling the Saudi conglomerate to develop a rich portfolio interested in gas excavation, and production.
A third agreement Aramco signed with Switzerland-based Litasco company, the international promotion and trade arm of Lock Oil, one of Russia's largest oil companies.

Aramco also signed a MOU with Russia's Direct Investment Fund and Sebor for strategic marketing for petrochemicals.