WASHINGTON — Saudi Aramco announced the signing of 17 memoranda of understanding (MoUs) and agreements with a potential total value of more than $30 billion with major companies in the United States, through its Aramco Group Companies. The MoUs and agreements build on the 34 MoUs and agreements announced in May during US President Donald Trump's visit to Saudi Arabia, which had a potential total value of approximately $90 billion, all supporting potential collaboration opportunities with companies in the United States valued at around $120 billion. The MoUs and agreements announced on Wednesday, on the sidelines of the official visit of Saudi Crown Prince Mohammed bin Salman to Washington, are expected to support Aramco's strategic growth objectives while enhancing shareholder value, and they involve collaborations and partnerships covering a range of activities including liquefied natural gas (LNG), financial services, advanced materials manufacturing, and procurement of materials and services. The announcement coincides with the Saudi-U.S. Investment Forum in Washington, D.C. and builds on Aramco's long history of partnership with U.S. companies spanning more than nine decades. "Since the 1930s, U.S. firms have played a major role in supporting the company's success. These relationships have contributed to the first production of oil in Saudi Arabia, the growth of natural gas business, an expansion of our integrated downstream operations, the development of advanced digital technologies, AI and R&D, and promoted upskilling through the training and development of many Aramco employees in the U.S.," said Aramco President and Chief Executive Officer Amin Nasser. "We expect the multibillion-dollar MoUs and agreements announced yesterday to act as a springboard for further progress, strengthening Aramco's long standing legacy of collaboration with American counterparties and unlocking new value creation opportunities that promote innovation and growth," Nasser said. The new MoUs and agreements announced by Saudi Aramco include a MoU concerning potential investment in the Lake Charles Liquefied Natural Gas project with MidOcean Energy, another MoU concerning a LNG project in Louisiana, and the potential purchase of LNG and natural gas by Aramco Trading with Commonwealth LNG. Additionally, Saudi Aramco, one of the world's leading integrated energy and chemicals companies, signed several contracts and agreements reflecting the nature of ongoing relationships with strategic U.S. suppliers, including SLB, Baker Hughes, McDermott, Halliburton, Nesr, KBR, Flowserve, NOV, Worley, and Fluor. These suppliers provide high-quality materials and professional services that support Aramco's projects and operations
