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In the presence of the Custodian of the Two Holy Mosques and President Trump
Aramco signs trade and investment agreements with US companies
Saudi Aramco today signed agreements with major US companies in a move that will pave the way for the company to enhance its cooperation with the United States and encourage its US counterparts to implement investments within the Kingdom.
The signing of these agreements was held in Riyadh in the presence of the Custodian of the Two Holy Mosques King Salman Bin Abdul Aziz Al Saud and US President Donald Trump.
President Trump's visit to the Kingdom also includes a business summit attended by Saudi and US executives to strengthen the longstanding ties between Saudi Arabia and the United States of America.
These agreements were signed by Saudi Aramco's President and Chief Executive, Eng. Amin Hassan Al-Nasser, and his US counterpart.
"The memorandums of understanding that we have signed today underscore the prospects for cooperation between Saudi Arabia and the United States in areas of strategic importance that are the link between the Kingdom's 2030 vision and the depth and strength of the US economy.
The $ 50 billion agreement highlights Saudi Aramco's ongoing strategic growth and diversification, including strengthening the company's position as a world leader in energy and chemicals, and focusing on building local capacity for its expertise and workforce.
The signed and revised memorandums of understanding, the joint venture with Jacobs Engineering, include new joint ventures to provide project and construction management services, and upgrade project implementation and job creation throughout the Kingdom and the region.
The project represents a definitive agreement with Jacobs Engineering Group to form a joint venture company based in Saudi Arabia that provides professional services in project and construction management for construction and infrastructure projects in the Kingdom. The two sides have also agreed to set up a joint venture to provide these services in the Middle East and North Africa region. The agreement is expected to create 300 jobs.
The joint venture with Saudi Arabia's National Oil Well, Saudi Aramco and National Oil Well Farco, also announced the establishment of a joint venture to provide high-quality drilling platforms and advanced drilling equipment.
Saudi Aramco and National Oil Well Farco signed a memorandum of understanding to set up a joint venture in Saudi Arabia.
The project is expected to provide high-quality ground drilling equipment, drilling equipment and a range of after-sales services through state-of-the-art manufacturing facilities in the Kingdom and the pioneering drilling techniques owned by National Oil Well Farco.
The two companies announced that their joint venture will set up an educational center to train Saudi technicians to maintain and operate advanced technical drilling equipment the project will bring to the Kingdom. The project is expected to provide 1,000 jobs.
A memorandum of understanding was signed to conduct a feasibility study on a larger portfolio of investments in the oil and gas sectors with General Electric - adding value to the existing business group with a partner for a long time.
A memorandum of understanding has also been signed to examine the feasibility of developing new business across the energy value chain, including a range of incentives in the fields of exploration, production, product transfer, refining, processing and marketing in the oil and gas sectors, including the development of manufacturing centers for oil field services and equipment. The project is expected to create 2,000 jobs.
The agreements included a memorandum of understanding with GE - for a digital transformation of Saudi Aramco operations
In the oil and gas sector, Saudi Aramco and General Electric signed a memorandum of understanding (MoU) to digitize Saudi Aramco operations to provide US $ 4 billion in productivity per year.
To achieve this transformation, GE will set up a digital conversion office with a number of Saudi engineers and experts. The office will provide 250 high-tech jobs and 500 additional jobs in the digital industry.
GE will work in line with the objectives of the 2030 Kingdom Vision to encourage the study of science, technology and mathematics in Saudi secondary schools and universities to develop the digital industry to meet the future demand for these disciplines.
This collaboration is a strong example of Saudi Aramco's leadership of the industry and its commitment to the Kingdom's 2030 vision to develop high-tech careers and professional knowledge that add value to the local economy.
A revised memorandum of understanding was signed with Rowan to establish a offshore drilling company in the Kingdom. It is non-binding whereby the partners of Rex of Shore will prepare the designs of the drilling platforms installed on the berths to be manufactured in the sea basin in Ras Al Khair city in the Kingdom. This Memorandum of Understanding is an extension of the agreement signed in November 2016 for the establishment of a 50% joint venture to own, operate and manage offshore drilling platforms in the Kingdom.
The new joint venture company will benefit from Rowan's existing operations in the Kingdom as its base includes a range of operations covering current and future oil and gas fields located in the Kingdom's offshore areas.
The new company is expected to start operations in the second quarter of 2017 and provide 1,000 jobs.
A revised memorandum of understanding was signed with Nabouris to discuss the prospects of developing and improving the ground drilling work to discuss the prospects of improving and developing the logistics services for the provision of land drilling and the use of services and the transfer of rigs for the joint venture to own and operate the land drilling equipment.
The benefits of this project include canceling the costs of moving the rigs, reducing daily rental rates, attracting foreign direct investment, and creating jobs with Saudization levels expected to reach 80%. The project is expected to provide 1,000 jobs.
A memorandum of understanding was signed with McDermott to expand and develop the company's physical and human resources within the Kingdom to promote and develop the material and human resources within the Kingdom as part of Saudi Aramco's Total Value Added Enhancement Program.
This Memorandum of Understanding demonstrates McDermott's support for the vision of the Kingdom of Saudi Arabia 2030 and its sustainability program. The company has committed to implementing a plan of nine initiatives to increase its contribution to Emiratisation efforts in the Kingdom and achieve its objectives in 2021.
McDermott plans to increase the number of Saudi nationals within its workforce in the Middle East to 40% by 2030. The project is expected to provide 3,000 jobs.
A Memorandum of Understanding (MoU) has been signed with Honeywell to enhance digitization in the oil and gas sector to enhance long-standing cooperation between the two companies, to support the development and diversification of the oil and gas sector in the Kingdom, and to accelerate the realization of benefits from the Internet.
The MoU is expected to create more than 200 jobs, as well as provide suppliers with substantial funding sources.
It also signed a memorandum of understanding with Honeywell - a new partnership to support the program to explore the potential of the new engineering capabilities and systems to be developed in many of the leading industrial centers in the Kingdom and to support the objectives of the program of increasing investment and economic diversification and creating job opportunities and developing labor within the Kingdom. .
A memorandum of understanding was signed with Schlumberger to launch a series of projects related to the settlement of oilfield products and services and is expected to create 2,600 job opportunities to provide suppliers with substantial funding sources.
A memorandum of understanding has been signed with Halliburton to develop a series of projects related to the settlement of oil field products and services. It is expected to create more than 750 jobs and provide high value support services.
A memorandum of understanding was signed with Waterford to launch a series of projects related to the settlement of oil field products and services, and is expected to create more than 900 jobs and provide suppliers with substantial funding sources.
A memorandum of understanding was signed with Baker Hughes to launch a series of projects related to the settlement of oilfield goods and services. It is expected to create 600 jobs and provide suppliers with substantial sources of funding.
A Memorandum of Understanding (MoU) was signed with Emerson for digital transformation within Saudi Aramco's processes that complement the Planet's digital ecosystem solutions, training competencies (Saudi Aramco staff training), digital oil field initiatives, and research and development in advanced process automation applications.
Https://sabq.org/ Aramco-Tarmm-Agreements-Commercial-Investment-With-American-Companies
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Al-Watan Saudi Arabia / # Urgent US Secretary of State: We will work collectively to achieve a continuity-sustainable partnership.
Real fun stuff. The traditional dancing and celebrating really lightens the mood. It puts a nice, fun feeling to the whole thing I think it's great. Seeing Trump loosen up and bop a little was priceless. He needs to polish his dancing moves, though. 
