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.