Saudi Aramco announced agreements with multiple French companies valued at over $3.7 billion on Monday, marking a significant expansion of procurement and technology partnerships.
The state-owned oil giant signed procurement contracts for drilling equipment and oil country tubular goods, reinforcing its supply chain for upstream operations. Additionally, the company formalized a memorandum of understanding to explore industrial artificial intelligence and related technologies in collaboration with the French firms.
The deals were disclosed without naming the specific companies involved. Saudi Aramco, the world’s largest oil exporter, operates under the ticker 2222 on the Tadawul exchange. The agreements were announced amid ongoing efforts to diversify procurement sources and integrate advanced technologies into its industrial processes.
The procurement contracts are expected to support Saudi Aramco’s operational efficiency, while the AI-focused MoU aligns with broader digital transformation initiatives within the energy sector. Further details on implementation timelines and specific technological applications were not provided in the announcement.
