Saudi Aramco has announced that it has signed agreements totalling approximately US$50 billion with a number of major companies in the US.
The agreements were recently signed by US President Donald Trump and Saudi Aramco’s President and CEO, Amin H. Nasser.
Mr Nasser said: “The agreements signed today by Saudi Aramco with major American companies underscore the purposeful collaboration between Saudi Arabia and the United States in areas of strategic importance linking Saudi Vision 2030 and America’s own economic depth and strength.”
Some of the agreements are outlined in further detail below:
JV with Jacobs Engineering Group
Saudi Aramco has signed an agreement with Jacobs Engineering Group Inc. to form a Saudi Arabia-based joint venture (JV) company that provides professional program and construction management (PMCM) services for building and infrastructure projects in the Kingdom. The parties also agreed to form a joint venture to provide PMCM services in the Middle East and North Africa. The agreement is expected to create 3000 jobs.
JV with National Oilwell Varco (NOV)
Saudi Armaco signed a memorandum of understanding (MoU) with NOV to form a JV in the Kingdom of Saudi Arabia. The JV will provide high-specification land rigs, rig and drilling equipment and offer certain aftermarket services. The JV will also establish an education centre to train Saudi technicians in the maintenance and operation of the sophisticated drilling technology that the venture will bring to the Kingdom. It is expected to create 1000 jobs.
Saudi Aramco has signed a broader oil and gas investment feasibility study MoU with GE to examine the feasibility of new business development across the energy value chain, including enablers covering the oil and gas upstream, midstream and downstream eco-system.
The company also signed an MoU with GE to undertake a digital transformation of its operations.
Saudi Aramco inked an MoU with Honeywell to advance both companies long-standing cooperation. It further supports the development and diversification of Saudi Arabia’s oil and gas sector, and accelerates the benefits of the Industrial Internet of Things (IIoT) within Saudi Aramco’s operations. The MoU will create over 400 jobs, as well as support suppliers with significant funding.
Another MoU was signed with Honeywell to jointly explore the potential for new engineering capabilities and systems to be developed at several of Saudi Arabia’s world-leading industrial centers, supporting the IKTVA Program’s objectives of increased investment, economic diversification, job creation, and workforce development within the Kingdom.
MOU with Emerson
Collaboration for digital transformation within Saudi Aramco’s operations which covers Plantweb Digital Ecosystem Solutions (IIoT); competency development programs (training of Saudi Aramco employees), digital oilfield initiatives; and R&D in advanced applications for process automation.
Other MoUs were signed with Rowan, Nabors, McDermott, Schlumberger, Halliburton and Weatherford.
Read the article online at: https://www.hydrocarbonengineering.com/gas-processing/23052017/saudi-aramco-inks-agreements-with-us-companies/