Aramco unveils $30 billion partnerships with companies in US

Saudi Arabian Oil Co on Wednesday announced 17 memorandums of understanding and agreements in the US worth more than USD30 billion.

The Dhahran, Saudi Arabia-based state-owned oil and gas company, also known as Aramco, said the new MoUs and agreements will support its strategic growth objectives through collaborations across liquefied natural gas, financial services, advanced materials manufacturing, and procurement of materials and services.

Chief Executive Officer Amin Nasser commented: "Since the 1930s, US firms have played a major role in supporting the company's success...We expect the multi-billion dollar MoUs and agreements announced today to act as a springboard for further progress, strengthening Aramco's longstanding legacy of collaboration with American counterparties and unlocking new value creation opportunities that promote innovation and growth."

Aramco has signed an MoU with EIG Global Energy Partners LLC-owned MidOcean Energy, in which Aramco holds a minority stake, regarding a possible investment in the Lake Charles LNG project in Louisiana. Meanwhile, another agreement with Commonwealth LNG LLC relates to a liquefaction project located in Louisiana and could see Aramco purchase LNG and gas.

The company also confirmed several contracts and agreements to procure materials and services. This included deals with Baker Hughes Co, Halliburton Co, Worley Parsons Ltd, SLB Ltd, McDermott International Ltd, National Energy Services Reunited Corp, KBR Inc, Flowserve Corp, NOV Inc, and Fluor Corp.

"These suppliers provide high-standard materials and professional services that help support Aramco's projects and operations," Aramco commented.

Aramco said JPMorgan Chase & Co will also support its cash account management, while Blackstone Inc, PGIM Inc, and Loomis, Sayles & Co LP will provide additional financial services.

Furthermore, an MoU with Syensqo SA to explore the localisation of carbon fibre and advanced composites for industrial applications has been extended.

These new announcements coincided with the US-Saudi Investment Forum 2025 in Washington, DC.