Saudi Aramco, the world’s largest oil exporter, announced agreements worth more than $3.7 billion with French firms on Monday. The deals include procurement contracts for drilling equipment and oil country tubular goods, though the names of the French companies involved were not disclosed.
The state-owned energy giant also signed a memorandum of understanding to explore industrial artificial intelligence and related technologies. The agreements were unveiled as part of broader efforts to expand Aramco’s operational partnerships and technological capabilities.
The contracts follow a period of heightened international collaboration for Aramco, which has sought to diversify its supply chain and enhance efficiency across its upstream and downstream operations. The company, listed on the Tadawul exchange under ticker 2222, did not provide additional details on the duration or specific scope of the procurement arrangements.
The AI-focused MoU signals Aramco’s growing interest in leveraging advanced technologies to optimize its industrial processes, though further terms were not disclosed.
