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Aramco Signs About $85B Investment Agreements in 2018

Source: www.gulfoilandgas.com 12/27/2018, Location: Middle East

In March 2018, Saudi Aramco participated in the Saudi-U.S. CEO Forum held in New York to promote bilateral business and cooperation between the two countries. During this forum, Aramco discussed $10B commercial collaborations with 14 american companies include: Schlumberger Ltd, Baker Hughes, A GE Company, Halliburton, Saudi Aramco Nabors Drilling (SANAD), Weatherford, ARO Drilling, Emerson Electric Company, Honeywell International Inc., Raytheon Company, Google Cloud, National Geographic, Smithsonian Institute and Center for Strategic & International Studies.

In October 2018, Saudi Aramco participated in the Saudi-France CEO Forum held in Paris to promote bilateral business and cooperation between the two countries. The $12B commercial collaborations discussed at the Forum included: Veolia and Dussur, TechnipFMC, Schneider, Suez and Dussur, Institut Du Monde Arabe (Arab World Institute), Total, Centre Pompidou.

Also in October 2018, At the highly impactful Future Investment Initiative (FII) forum in Riyadh, Saudi Aramco signed 15 Memoranda of Understanding (MoUs) and strategic and commercial collaborations valued at more than US$34 billion with 15 international partner companies and entities from eight countries in 3 continents. The MOUs and commercial collaborations signed are:

1. MOU with Total to launch engineering studies to build petrochemical complex in Jubail, KSA

2. MOU with Total regarding the potential establishment of a retail service station network

3. MOU with Hyundai Heavy Industries regarding potential HHI investments in King Salman International Maritime Complex for Industries and Services at Ras Al Khair

4. MOU with Baker Hughes GE

5. MOU with Schlumberger

6. MOU with Halliburton

7. MOU with Oilfield Supply Center

8. MOU with Flex-Steel to invest in RTP reinforced thermoplastic pipe facility

9. MOU with NPCC (National Petroleum Construction Company, UAE) to invest in a fully integrated fabrication yard and marine base

10. MOU with SeAH Changwon Integrated Specialty Steel Co. Limited to invest in localization of engineering steel

11. MOU with GumPro (India) to invest in drilling chemicals facility

12. MOU with Acwa Power (KSA) and Air Product (USA) regarding the Jazan Refinery gasification power project

13. MOU with Sumitomo (Japan) regarding potential investments to upgrading PetroRabigh Refinery

14. MOU with Norinco (China) regarding potential investments in refining and chemicals projects

15. MOU with NOV (USA) to invest in manufacturing and repair of onshore rigs and equipment

In November 2018, Saudi Aramco hosted its 4th IKTVA Forum & Exhibition at the Dhahran Expo Center in Dammam, attracting more than 1,000 local and international energy-sector service and equipment suppliers, manufacturers and small and medium enterprises to explore available investment opportunities with Saudi Aramco in the upstream, chemicals, utilities, non-metallic, IT and cybersecurity, and other areas. Aramco signs $27.5B MoUs and commercial collaborations included the following companies and entities: Offshore Oil Engineering Co. Ltd., Sapura Fabrication Sdn, Consortium of Lamprell Energy and Boskalis Westminster, Consortium of Technip Italy and Malaysia Marine & Heavy Engineering, National Petroleum Construction Company, Baker Hughes, a GE Company, Schlumberger, Siemens, Saudi Arabia Industrial Development Fund, PowerChina, ABB, Leading National Academy, Technical & Vocational Training Corp, Human Resource Development Fund, and the Ministry of Labor and Social Development, Gulf Chemicals & Industries Oils Company, Yokogawa, Schneider Electric Company, Honeywell, Emerson, Saudi Mechanical Industries, Weir Arabian Metal/Weir Group, TechnipFMC, Ensco, Shelf Drilling Group, Noble, Larsen & Toubro, Gulf Heavy Industries, Al-Khonaini International Company, Hadi Hammam Al Hammam Holding Company, Leanardo Helicoptors & Lamar Holding Company, Airbus & Al-Qahtani Aviation and Leading National Academy (LNA) & National Power Academy (NPA).

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Related Categories: Accounting, Statistics  Acquisitions and Divestitures  Asset Portfolio Management  Economics/Financial Analysis  General  Industrial Development  Insurance  Investment  Mergers and Acquisitions  Risk Management 

Related Articles: Accounting, Statistics  Acquisitions and Divestitures  Asset Portfolio Management  Economics/Financial Analysis  General  Insurance  Investment  Mergers and Acquisitions  Risk Management 


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