Saudi Aramco announces commercial cooperation worth over $12 billion with French companies during Saudi-France CEOs forum in Paris
- Saudi Aramco develops business opportunities with French companies in the Forum in Paris in conjunction with the visit of Crown Prince Mohamed Bin Salman Al Saud
- Major agreements includes collaboration worth $9 billion with Total for potential expansion of SATORP refinery and petrochemicals complex in Jubail
Saudi Aramco today participated in the Saudi-France CEO Forum held in Paris to promote bilateral business and cooperation between the two countries. The Forum was scheduled to coincide with the official visit to France by HRH Crown Prince Mohammed bin Salman.
During the Forum a number of cooperation arrangements and prospective commercial collaborations were signed and discussed with French counterparties as well as Saudi partners.
Speaking today at the Forum, Saudi Aramco President & CEO Amin H. Nasser said:
“Saudi Aramco has a massive and highly ambitious investment program over the next decade which is part of our portfolio expansion aspiration. This includes a number of mega world scale projects where French businesses can play a major role in providing the strategic mix of technical capabilities and innovation which would create the desired synergy which will be beneficial to the company but also to the Kingdom. With Vision 2030, I believe there are more opportunities for collaboration and partnerships, not only in the oil and gas sector but also in infrastructure, manufacturing and services industries which are critical to manage and operate an enterprise like Saudi Aramco.”
The commercial collaborations discussed at the Forum today included:
- Veolia and Dussur : MoU for Industrial Wastewater Treatment (IWWT) Champion
- TechnipFMC : A corporate purchase agreement for Wellhead & Surface Control Equipment
- Schneider : Corporate Purchase Agreement to manage the installed base of Process Automation System (PAS) and Remote Terminal Units (RTU).
- Suez and Dussur : MoU for Industrial Wastewater Treatment (IWWT) Champion
- Institut Du Monde Arabe (Arab World Institute) : MoU between King Abdulaziz Center for World Culture (Ithra) to enrich Ithra’s content via exchanging of expertise and offering state of the art initiatives in the form of travelling exhibits, staff training, workshop development, and archives.
- Total : MoU for the joint development of a petrochemicals complex integrated with existing SATORP Refinery. The project will include a mixed-feed cracker that will leverage refinery naphtha and off-gases from SATORP, supplemented by regulated ethane and natural gasoline, to develop downstream derivatives.
- Total : MoU for follow-up to evaluate the feasibility of jointly acquiring a retail service station network in Saudi Arabia.
- Centre Pompidou : MoU for Ithra and Centre Pompidou to exchange expertise and offering state of the art initiatives in the form of travelling exhibits, collaborating or co-curating on exhibits, museum development, performances, culture exchange programs, talks & forums, staff training and workshop development.
Following today’s signing ceremonies, Mr. Nasser said, “Today, we are further expanding our relationship with agreements and MOUs with leading French companies and organizations to support Saudi Aramco’s long business growth strategy.
“At Saudi Aramco we have real, tangible and meaningful opportunities to collaborate and build partnerships now and in the future. The strengths of French businesses and industry can play a role in Saudi Aramco’ business plan including in our diversification and expansion strategies underscored by the framework of Vision 2030.”