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Aramco Signs French Deals Worth More Than $3.7 Billion

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Saudi Aramco has signed agreements and a memorandum of understanding with French companies worth a potential combined value of more than $3.7 billion, as the energy giant moves to strengthen its supply chain and expand cooperation in digital technologies.

The partnerships are aimed at improving operational continuity and efficiency, advancing industrial artificial intelligence and digital technologies, and generating economic value in Saudi Arabia and France, Aramco said in a statement on Monday.

Aramco did not name the French companies or provide additional financial details.

The agreements were announced during the French-Saudi Investment Roundtable Meeting in Paris. They cover project support, capacity building, technology transfer, innovation, and supply chain resilience.

The deals include a corporate procurement agreement for drilling equipment and a purchase agreement for oil country tubular goods used in oil and gas drilling and production.

Aramco Digital also signed an MoU with a French company covering potential cooperation in industrial AI, virtual and digital twin technologies and related applications, including in the oil and gas sector.

Aramco said the partnerships will support the development of its supply-chain ecosystem while promoting technology and knowledge transfer between Saudi Arabia and France.

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