Aramco, one of the world’s leading integrated energy and chemicals companies, has signed 34 memoranda of understanding (MoUs) and agreements, with a potential total value of approximately $90 billion, with major U.S. companies.
The MoUs and agreements cover collaborations and partnerships relating to a range of Aramco’s activities, including liquefied natural gas (LNG), fuels, chemicals, emission-reduction technologies, Artificial Intelligence (AI) and other digital solutions, manufacturing, asset management, short-term cash investments, and procurement of materials, equipment, and services.
The MoUs and agreements aim to build on the longstanding relationship between Aramco and U.S. companies, enhance shareholder value, and foster further collaboration and innovation in the energy sector and beyond.
From the upstream segment, the MoUs and agreements signed by Aramco include those with Sempra Infrastructure, with an MoU related to previously announced HOA regarding liquified natural gas (LNG) equity and offtake stake in Port Arthur LNG 2.
As announced earlier, Aramco and Woodside Energy signed collaboration agreement to explore global opportunities, including an equity interest and LNG offtake from the Louisiana LNG project. Additionally, both companies are exploring opportunities for a potential collaboration in lower-carbon ammonia.
Aramco enter final agreement with NextDecade for the purchase 1.2 million tonnes per annum of LNG for a 20-year term from Train 4 of the Rio Grande LNG Facility, subject to certain conditions, including a positive final investment decision of Train 4.
As for technical services, the newly signed MoUs were signed to reflect the existing relationships with strategic U.S. suppliers including SLB, Baker Hughes, McDermott, Halliburton, Nabors, Helmerich & Payne, Valaris, NESR, Weatherford, Air Products, KBR, Flowserve, NOV, Emerson, GE Vernova, and Honeywell.
These suppliers provide high-standard materials and professional services that help support Aramco’s projects and operations.
“Yesterday’s announcements show the breadth and depth of Aramco’s long history of partnerships with US companies since the first discovery of oil in the Kingdom more than 90 years ago.
“Our U.S.-related activities have evolved over the decades, and now include multi-disciplinary R&D, the Motiva refinery in Port Arthur, start-up investments, potential collaborations in LNG, and ongoing procurement.
“As Aramco pursues an ambitious value-driven growth strategy, we believe that aligning with world-class partners supports further development of our operations, strategic diversification of our portfolio, industrial innovation, and ongoing capability development within the Kingdom,” said Amin H. Nasser, Aramco President & CEO.
