Aramco, one of the world’s leading integrated energy and chemicals companies, last week announced the signing of 34 Memoranda of Understanding (MoUs) and agreements, with a potential total value of approximately $90 billion, with major US companies, through its Aramco Group Companies.
The MoUs and agreements cover collaborations and partnerships relating to a range of Aramco’s activities, including Liquefied Natural Gas (LNG), fuels, chemicals, emission-reduction technologies, Artificial Intelligence (AI) and other digital solutions, manufacturing, asset management, short-term cash investments, and procurement of materials, equipment, and services. The MoUs and agreements aim to build on the longstanding relationship between Aramco and US companies, enhance shareholder value, and foster further collaboration and innovation in the energy sector and beyond.
Amin H. Nasser, Aramco President & CEO, said: “Yesterday’s announcements show the breadth and depth of Aramco’s long history of partnerships with US companies since the first discovery of oil in the Kingdom more than 90 years ago. Our US-related activities have evolved over the decades, and now include multidisciplinary R&D, the Motiva refinery in Port Arthur, start-up investments, potential collaborations in LNG, and ongoing procurement. As Aramco pursues an ambitious value-driven growth strategy, we believe that aligning with world-class partners supports further development of our operations, strategic diversification of our portfolio, industrial innovation, and ongoing capability development within the Kingdom.”
