JEDDAH: Saudi energy giant Aramco has announced agreements and a memorandum of understanding with French companies worth a potential combined value of more than $3.7 billion.
The arrangements cover drilling equipment, oil country tubular goods and cooperation in industrial artificial intelligence and digital technologies, according to Aramco. The company said the partnerships are expected to improve supply-chain resilience, operational continuity and efficiency while creating economic value for Saudi Arabia and France. Aramco did not disclose the names of the French companies involved in the latest agreements.
The agreements were announced during the Saudi-French Investment Roundtable in Paris, attended by Aramco President and CEO Amin H. Nasser, as part of Crown Prince and Prime Minister Mohammed bin Salman’s official visit to France.
Following the meeting, France and the Kingdom issued a joint statement reaffirming their strategic partnership and their commitment to deepening cooperation in defense, investment, energy, artificial intelligence, emerging technologies, culture, and tourism.
The latest deals come as Saudi Arabia and France broaden economic ties beyond energy into technology, investment and industrial development. The two countries have also moved to deepen cooperation through the Saudi-French Strategic Partnership Council.
