By Manya Saini
Dubai (Reuters) -Saudi Aramco unveiled 34 preliminary agreements on Wednesday with large American companies, which applies to $ 90 billion in one of its widest thrusts to deepen trade links with the United States.
The agreements underline the efforts of Saudi Arabia to strengthen its energy partnerships and attract foreign investments which seem to balance the domination of oil with broader industrial and technological growth under vision 2030.
“The United States is really a good place to put our investment,” the CEO of Aramco, Amin Nasser, at the US-Saudi Investment Forum in Riyadh, on Tuesday. He announced agreements with the producer of American liquefied natural gas NextDecadecade and the public service company Sempra.
The event coincided with the four-day tour of American President Donald Trump in the Gulf, marked by sumptuous receptions and a series of commercial transactions, including a commitment of $ 600 billion in Saudi Arabia to invest in the United States and $ 142 billion in arms agreement.
The $ 90 billion of agreements represent one of the biggest announcements of a day in Aramco with American companies, reflecting the extent of the push in the kingdom to deepen strategic economic links with Washington through energy, technology and finance.
Aramco is the economic backbone of Saudi Arabia, generating most of the revenues of the Kingdom thanks to oil exports and by funding its ambitious Diversification Diversification 2030.
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The company said that the agreements, concluded thanks to its companies in the Aramco group, aim to rely on its long -standing links with American companies, to improve the value of shareholders and to extend collaboration in energy and other strategic sectors.
A memorandum of understanding with NVIDIA heavyweight technology aims to establish an advanced industrial AI infrastructure, including an AI center, an engineering and robotics center and labor programs.
Aramco has also signed a memorandum of understanding with Exxonmobil to assess a significant upgrade of its Samref refinery, with plans to extend it in an integrated petrochemical complex.
Meanwhile, he signed a non -binding agreement with Amazon Web Services to collaborate on digital transformation and lower carbon initiatives, while a memorandum of understanding with Qualcomm focuses on collaboration to improve industrial networks and AI capabilities.
“Our activities linked to the United States have evolved over the decades and now includes multidisciplinary R&D, Motiva refinery in Port Arthur, start-up investments, potential collaborations in LNG and current supply,” Nasser said in a statement.
Aramco said on Tuesday that he would invest $ 3.4 billion to extend the Motiva refinery to Texas.
