Saudi Aramco, US firms ‘to create thousands of jobs under $50 billion agreements’

Saudi Aramco has signed agreements with American companies to promote bilateral trade and investment between Saudi Arabia and the US.

RIYADH: Saudi Aramco on Saturday signed agreements with major US companies with an estimated total value of $50 billion.
The agreements were signed in Riyadh in the presence of King Salman and US President Donald Trump.
They “will pave way for the company to enhance its business synergy with the US as well as attracting investments from its US counterparts to the Kingdom,” according to a company statement.
“The agreements signed today by Saudi Aramco with major American companies underscore the purposeful collaboration between Saudi Arabia and the US in areas of strategic importance linking Saudi Vision 2030 and America’s own economic depth and strength,” said Saudi Aramco President and CEO Amin Nasser.
Among the agreements signed or updated are a joint venture with Jacobs Engineering to provide program and construction management services, and one with the National Oilwell Varco (NOV) to provide high-specification drilling rigs and advanced drilling equipment.
Other MoUs were signed with GE, Rowan, Nabors, McDermott, Honeywell, Schlumberger, Halliburton, Weatherford, Baker Hughes and Emerson.