Aramco Signs 34 MoUs Worth $90 billion with Major US Companies

Aramco has signed 34 Memoranda of Understanding (MoUs) and agreements with leading US companies. These deals have a potential combined value of approximately $90 billion. The initiative is aligned with Aramco’s mission to drive long-term strategic growth, enhance shareholder value, and deepen collaboration with US partners.

Scope of Collaborations

The agreements span a wide range of sectors, including:

• Liquefied Natural Gas (LNG)
• Fuels and Chemicals
• Emission-Reduction Technologies
• Artificial Intelligence (AI) & Digital Transformation
• Manufacturing
• Procurement & Asset Management
• Financial Investment Solutions

 

Downstream Partnerships

• Honeywell UOP: Licensing deal for aromatics technology.
• Motiva (Port Arthur): Agreement to advance an aromatics project (subject to final investment decision).
• Afton Chemical: Fuel additive development for pipeline and retail applications.
• ExxonMobil: Joint evaluation of a major upgrade to the SAMREF refinery, aiming to evolve it into a world-class petrochemical complex.

 

Upstream Ventures

• Sempra Infrastructure: LNG offtake and equity interest in Port Arthur LNG Phase 2.
• Woodside Energy: Exploring global LNG opportunities and potential collaboration on low-carbon ammonia.
• NextDecade: 20-year LNG supply deal (1.2 MTPA) from Train 4 of the Rio Grande LNG Facility, pending final investment decision.

 

Technology & Innovation

• Amazon Web Services (AWS): Strategic framework for digital transformation and low-carbon technology initiatives.
• NVIDIA:
• Development of advanced AI infrastructure tailored for industrial use.
• Establishment of AI Hub, Engineering & Robotics Center of Excellence.
• Upskilling and startup collaboration across sectors.
• Qualcomm & Aramco Digital: Strategic exploration of 5G-enabled industrial edge devices and AI-powered IoT applications.

 

Technical Services

• Aramco signed MoUs with top-tier US suppliers, including:
• SLB, Baker Hughes, McDermott, Halliburton, Nabors, Weatherford, GE Vernova, Honeywell, and more.
• These partnerships aim to ensure a steady supply of quality materials and services to support Aramco’s global projects.

 

Strategic Industrial Development

• Guardian Glass: Agreement to establish local manufacturing of specialty architectural glass within Saudi Arabia, promoting industrial localization.

 

Finance & Asset Management

• Wisayah, Aramco’s investment arm, finalized agreements with:
• PIMCO, State Street, and Wellington for asset management.
• BlackRock, Goldman Sachs, Morgan Stanley, and PIMCO for short-term cash investments via a custom investment vehicle – the "Fund of One".

 

CEO Remarks

Amin H. Nasser, President & CEO, emphasized Aramco’s rich legacy of cooperation with US firms spanning over 90 years. He highlighted how these latest agreements reflect Aramco’s continued commitment to R&D, innovation, LNG development, portfolio diversification, and industrial transformation.