BAKU, Azerbaijan, November 20. Saudi Aramco has
signed 17 new memoranda of understanding and agreements with major
U.S. companies worth more than $30 billion, Trend reports via the
company.
The deals, announced during the U.S.-Saudi Investment Forum in
Washington, build on 34 agreements unveiled in May valued at about
$90 billion. Together, the potential collaboration opportunities
with U.S. firms now total around $120 billion, Aramco said.
The latest agreements support the company’s growth strategy and
cover LNG, advanced materials, procurement, and financial
partnerships. They include potential LNG investments with MidOcean
Energy and Commonwealth LNG, as well as contracts with key U.S.
suppliers such as SLB, Baker Hughes, McDermott, Halliburton, KBR
and Fluor.
Aramco also extended an MoU with Syensqo to explore localizing
carbon-fiber and composite manufacturing, and signed
asset-management and investment arrangements with Loomis Sayles,
Blackstone and PGIM. A strategic cash-management collaboration was
agreed with J.P. Morgan.
“Since the 1930s, U.S. firms have played a major role in
supporting the company’s success,” President and CEO Amin Nasser
said, adding that the new multi-billion-dollar agreements would
“act as a springboard for further progress” and create new
opportunities for innovation and growth.
