Saudi Aramco Signs Deals Worth Up to $90 Billion With US Companies to Help Long-Term Growth
Saudi Aramco has made 34 deals with big American companies, possibly worth $90 billion. These deals are meant to help the company grow in the long term and get more involved in areas like oil and gas, artificial intelligence (AI), and manufacturing.
Aramco’s Deals in the US
On Wednesday, Saudi Aramco announced that it signed agreements and memorandums of understanding (MoUs) with several US companies: Honeywell UOP, Afton Chemical, ExxonMobil, and Motiva. These deals aim to improve Aramco’s refining and chemical operations.
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With Honeywell, the agreement is about using Honeywell’s technology for an aromatics (chemical) project.
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With Motiva, the agreement supports a similar project in Port Arthur, Texas, but it still depends on a final investment decision.
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With Afton Chemical, the focus is on creating and supplying fuel additives for pipelines and gas stations.
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With ExxonMobil, Aramco is exploring a major upgrade to the SAMREF refinery to turn it into a top-level chemical complex.
Deals to Boost Oil and Gas Operations
Aramco also signed deals to improve its oil and gas business:
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With Sempra Infrastructure, Aramco is moving forward on a deal to invest in and buy liquefied natural gas (LNG) from the Port Arthur LNG 2 project.
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With Woodside Energy, Aramco is exploring global projects, including investing in LNG from a Louisiana facility and working together on low-carbon ammonia.
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With NextDecade, Aramco agreed to buy 1.2 million tons of LNG each year for 20 years from a project in Texas, if the project goes ahead.
Agreements with Tech Companies
Aramco also signed technology deals:
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With Amazon and AWS, they plan to work together on digital technology and reducing carbon emissions.
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With Nvidia, they will build AI systems, including a hub, platforms, a robotics center, and training programs.
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With Qualcomm, they plan to use Aramco’s 5G network to connect smart devices like robots, drones, and sensors, using AI.
Aramco also signed MoUs with US companies like SLB, Baker Hughes, and Halliburton to support its work. It made a deal to produce special glass in Saudi Arabia and signed agreements with PIMCO, State Street, and Wellington to manage assets. It also partnered with BlackRock, Goldman Sachs, Morgan Stanley, and PIMCO for short-term cash investments.
Saudi Arabia’s AI Development
Saudi Arabia is working hard to grow its digital and AI industries:
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On Monday, the country launched a new AI company called Humain, managed by the Public Investment Fund (PIF).
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In 2020, Saudi Arabia announced it would invest $20 billion in AI over 10 years, aiming to create 300 AI startups.
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In October 2024, the PIF and Google Cloud opened an AI hub near Dammam, expected to add $71 billion to the country’s economy.
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In January 2022, the PIF started the Saudi Company for Artificial Intelligence to support AI and new technologies in the country.
Published: 15th May 2025
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