Aramco Signs 17 MoUs Valued At $30 Billion With Companies In The United States

Aramco, one of the world’s leading integrated energy and chemicals companies, has signed seventeen (17) Memoranda of Understanding (MoUs) and agreements with a potential total value of more than $30 billion with major companies in the United States through its Aramco Group companies.

These MoUs and agreements build on the 34 MoUs and agreements announced in May, which had a potential total value of approximately $90 billion.

Collectively, they are geared toward unlocking potential collaboration opportunities with companies in the U.S. valued at around $120 billion.

The MoUs and agreements are expected to support Aramco’s strategic growth objectives while enhancing shareholder value.

They involve collaborations and partnerships across a range of activities including liquefied natural gas (LNG), financial services, advanced materials manufacturing, and procurement of materials and services.

Amin H. Nasser, Aramco President & CEO, said: “Since the 1930s, U.S. firms have played a major role in supporting the company’s success. These relationships have contributed to the first production of oil in Saudi Arabia, the growth of our gas business, an expansion of our integrated downstream operations, the development of advanced digital technologies, AI and R&D, and promoted upskilling through the training and development of many Aramco employees in the U.S. We expect the multi-billion-dollar MoUs and agreements announced today to act as a springboard for further progress, strengthening Aramco’s longstanding legacy of collaboration with American counterparties and unlocking new value-creation opportunities that promote innovation and growth.”