Aramco, one of the world’s leading integrated energy and chemicals companies, has signed 34 Memoranda of Understanding (MoUs) and agreements with major U.S. firms, with an estimated combined potential value of approximately $90 billion. The deals, signed through Aramco Group Companies, span multiple sectors including liquefied natural gas (LNG), fuels, chemicals, emission-reduction technologies, artificial intelligence (AI), manufacturing, asset management, and procurement.

The agreements aim to deepen Aramco’s longstanding ties with U.S. companies, bolster shareholder value, and advance innovation in the energy and technology sectors. Aramco President and CEO Amin H. Nasser emphasized the historic relationship, stating, “These agreements reflect the depth of Aramco’s partnerships with U.S. firms, dating back more than 90 years to the first oil discovery in the Kingdom. Our collaboration has evolved to encompass refining, R&D, digital solutions, and investments.”

Key Agreements by Sector:

Downstream:

•             Honeywell UOP: MoU for technology licensing for an aromatics project.

•             Motiva: MoU for an aromatics project at the Port Arthur refinery, pending a final investment decision.

•             Afton Chemical: Agreements related to chemical fuel additives for pipelines and retail fuel applications.

•             ExxonMobil: MoU to evaluate upgrading the SAMREF refinery and potentially expanding it into a leading petrochemical complex.

Upstream:

•             Sempra Infrastructure: MoU linked to an existing agreement for equity and offtake in Port Arthur LNG 2.

•             Woodside Energy: Agreement to explore global LNG opportunities, including equity and offtake in the Louisiana LNG project and potential collaboration on low-carbon ammonia.

•             NextDecade: Final agreement to purchase 1.2 million metric tons per year of LNG from Train 4 of the Rio Grande LNG facility, contingent on a final investment decision.

Technology and Innovation:

•             Amazon Web Services: Strategic framework agreement for digital transformation and carbon reduction efforts.

•             NVIDIA: MoU to develop industrial AI infrastructure, AI hubs, robotics centers, and workforce upskilling.

•             Qualcomm: MoU with Aramco Digital to explore a strategic partnership involving AI-driven edge devices and 5G connectivity.

Technical Services and Procurement:

MoUs were also signed with major service and equipment providers such as SLB, Baker Hughes, Halliburton, Emerson, Honeywell, and GE Vernova to support ongoing operations.

Strategy and Finance:

•             Guardian Glass: MoU to localize architectural specialty glass manufacturing in Saudi Arabia.

•             Wisayah (Aramco’s asset management arm): Agreements with PIMCO, State Street, and Wellington.

•             Short-term investments: “Fund of One” partnership agreements with BlackRock, Goldman Sachs, Morgan Stanley, and PIMCO.

These collaborations underline Aramco’s commitment to global growth, innovation, and diversification.

Aramco is a global leader in integrated energy and chemicals, with a dedicated team committed to making a meaningful impact across all aspects of its operations. From ensuring the reliable supply of essential oil to advancing innovative energy technologies, the company strives to make its resources more reliable, more sustainable, and more valuable. Aramco’s efforts are aimed at driving growth and enhancing productivity on a global scale.