Aramco, Saudi Arabia’s energy heavyweight, has revealed a new batch of multibillion-dollar memoranda of understanding (MoUs) and agreements, encompassing liquefied natural gas (LNG), financial services, advanced materials manufacturing, and procurement of materials and services for its offshore and onshore assets with U.S. companies such as SLB, Baker Hughes, McDermott, Halliburton, NESR, KBR, Flowserve, NOV, Worley, and Fluor.
While announcing a set of new MoUs and agreements with a potential total value of more than $30 billion, Aramco elaborated that these build on 34 such deals disclosed in May 2025 that had a potential worth of approximately $90 billion, supporting the unlocking of collaboration opportunities with companies in the U.S. valued at around $120 billion.
Amin H. Nasser , Aramco’s President & CEO, commented: “Since the 1930s, US 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 our 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 US.
“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.”
The latest MoUs and agreements are expected to support the Saudi giant’s strategic growth objectives while enhancing shareholder value. Within the LNG segment, these entail an MoU with MidOcean Energy for a potential investment in the Lake Charles LNG project and another deal for Commonwealth LNG , related to a liquefaction project in Louisiana, and Aramco Trading’s potential purchase of LNG and gas.
When it comes to the procurement of materials and services section, new contracts and agreements are said to reflect relationships with the Saudi Arabian titan’s strategic U.S. suppliers, including SLB, Baker Hughes, McDermott, Halliburton, NESR, KBR, Flowserve, NOV, Worley, and Fluor, which provide high-standard materials and professional services that help support the company’s onshore and subsea projects and operations.
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While the advanced materials manufacturing segment witnessed an extension of MoU with Syensqo to explore the localization of carbon fiber and advanced composites for industrial applications, the financial services section saw Wisayah asset management and investment agreements with Loomis Sayles, Blackstone, and PGIM, alongside a strategic collaboration with J.P. Morgan for cash account management.
Aramco recently sent a notice to Shelf Drilling to restart operations for a jack-up rig in the Middle East after previously suspending operations, effective September 2024.