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Aramco announces $10bn deals with US firms

April 2018

Saudi Aramco, Saudi Arabia’s oil giant, announced commercial cooperation deals worth over $10 billion with 14 American companies at the Saudi-US CEOs Forum in New York.

Saudi Aramco participated in the forum to promote bilateral business and cooperation between the two countries. The forum was scheduled to coincide with the official visit to the US by HRH Crown Prince Mohammed bin Salman. 

The commercial collaborations discussed at the forum included:  Schlumberger: a corporate purchase agreement for downhole equipment and services and wellhead and surface control equipment;  Baker Hughes, a GE Company:  a corporate purchase agreement for downhole equipment and services; Halliburton: a corporate purchase agreement for downhole equipment and services including well and rig services;  Saudi Aramco Nabors Drilling (Sanad):  an onshore drilling agreement; Weatherford:  a corporate purchase agreement for downhole equipment and a well testing services contract.

It also included ARO Drilling: an offshore drilling services agreement;  Emerson Electric Company:  a corporate purchase agreement for process automation systems, remote terminal units and control values; Texas Iron Works:  a corporate purchase agreement for downhole equipment services; Honeywell International:  a contract for Main Automation Contractor (MAC) services for a new Process Control System (or upgrade of existing ones); Raytheon Company:  an MoU to develop cybersecurity services.

Among other deals was  Google Cloud:  an MoU to jointly explore potential establishment of cloud services; National Geographic: an MoU to initiate a new relationship targeting multiple media future collaborations; Smithsonian Institution:  an MoU to conduct joint research in scientific knowledge and the environment, sharing initiatives, and cooperation in cultural, content and curatorial partnerships; and Center for Strategic & International Studies:  an agreement to advance joint research projects.

Speaking at the forum, Saudi Aramco president and CEO Amin H Nasser said: “We have enjoyed a long and successful relationship with our US partners since the discovery of oil in Saudi Arabia more than 80 years ago. And it is a pleasure to be here today among so many friends whom are all looking to explore and develop opportunities for commercial, industrial and economic cooperation between the Kingdom and the United States, which we hope will achieve exceptional success during the next 80 years to serve future generations.”




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