Saudi Aramco, a global leader in integrated energy and chemicals, announced 17 new memoranda of understanding (MoUs) and agreements with major U.S. companies, representing potential investments exceeding $30 billion through its Aramco Group subsidiaries.
These new agreements build on the 34 MoUs announced in May—worth an estimated $90 billion—bringing the total potential value of collaboration opportunities with U.S. firms to roughly $120 billion.
The newly announced deals support Aramco’s strategic growth plans and aim to enhance shareholder value. They span multiple sectors, including liquefied natural gas (LNG), financial services, advanced materials manufacturing, and procurement of materials and services.
Unveiled during the Saudi-U.S. Investment Forum in Washington, D.C., the agreements reinforce Aramco’s long-standing relationship with American companies, which dates back more than 90 years.
“Since the 1930s, U.S. firms have played a major role in supporting the company’s success,” said Aramco President and CEO Amin H. Nasser. “These partnerships have helped drive Saudi Arabia’s first oil production, expand our natural gas business, grow our downstream operations, and advance digital technologies, AI, and R&D. They have also supported the training and development of many Aramco employees in the United States.”
Nasser added, “We expect these multibillion-dollar agreements to serve as a springboard for further progress, strengthening Aramco’s legacy of collaboration with American partners and unlocking new opportunities for innovation and growth.”
Lake Charles LNG project
Among the new agreements are MoUs involving potential investments in the Lake Charles LNG project with MidOcean Energy, an LNG initiative in Louisiana, and prospective LNG and natural gas purchases by Aramco Trading from Commonwealth LNG.
Aramco also signed contracts with several long-term U.S. suppliers—SLB, Baker Hughes, McDermott, Halliburton, Nesr, KBR, Flowserve, NOV, Worley, and Fluor—whose materials and services support Aramco’s ongoing projects and operations. In addition, Aramco extended an MoU with Syensqo to explore localizing the manufacturing of carbon fiber and advanced composites for industrial use.
The announcements also included an investment and asset-management agreement for Wisayah with Loomis Sayles, Blackstone, PGIM, Inc., and J.P. Morgan to support strategic cash-management cooperation.
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