Saudi Aramco announced on Monday, August 24, the signing of agreements and a memorandum of understanding with a potential total value exceeding US$3.7 billion with French companies.

The joint cooperation efforts are expected to contribute to strengthening Saudi Aramco’s supply chain system, raising the level of business continuity and efficiency, developing industrial artificial intelligence and digital technologies, and contributing to achieving economic value for both Saudi Arabia and France, according to the company’s statement.

The agreements and memorandum of understanding signed by Saudi Aramco and Digital Aramco were announced during the French-Saudi Investment Roundtable meeting, in the presence of Saudi Aramco President and CEO, Amin bin Hassan Al-Nasser.

These agreements include:

- Corporate purchase agreement for drilling equipment

- Purchase agreement for oil and gas sector pipelines

- Memorandum of Understanding with Digital Aramco