Aramco signs over $3.7bn in agreements with French firms
Saudi Aramco has signed agreements and an MoU with French companies worth more than $3.7 billion to boost supply chains and digital innovation.
Key Takeaways
AISaudi Aramco, one of the world’s leading integrated energy and chemicals companies, has announced the signing of agreements and a memorandum of understanding with French companies, with a total potential value exceeding $3.7 billion.
According to an official statement on the company’s X account, the collaboration is expected to strengthen Aramco’s supply chain ecosystem, enhance business continuity and efficiency, advance industrial artificial intelligence and digital technologies, and create economic value for both Saudi Arabia and France.
The agreements and memorandum of understanding, signed by Saudi Aramco and Aramco Digital, were announced during the Saudi-French Investment Roundtable, attended by Aramco President and CEO Amin Nasser.
These partnerships focus on supporting projects, developing capabilities, technology transfer and innovation, and strengthening supply chain resilience. They include a corporate procurement agreement for drilling equipment, a procurement agreement for oil and gas sector pipes, and a memorandum of understanding with Aramco Digital to establish a potential framework for cooperation in industrial artificial intelligence and digital twin technologies, including possible applications in the oil and gas sector.
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