Saudi Aramco has announced more than $3.7 billion in potential agreements with French companies as the oil giant moves to strengthen its supply chain and expand the use of artificial intelligence and other digital technologies across its operations. <\/p>\n
The agreements and memorandum of understanding were announced<\/a> during a French-Saudi investment roundtable attended by Aramco President and CEO Amin Nasser. <\/p>\n The package includes a corporate procurement agreement covering drilling equipment and a purchase agreement for oil country tubular goods, or OCTG, a category of steel pipe used in drilling and well construction. <\/p>\n Aramco Digital also signed an MoU establishing a framework for potential cooperation in industrial artificial intelligence, virtual twin and digital twin technologies, including possible applications in the oil and gas sector. <\/p>\n Aramco said the partnerships could improve operational continuity and efficiency while supporting technology transfer, capability development and supply chain resilience. The company did not identify the French counterparties in its announcement or disclose how the potential $3.7 billion value is divided among the individual agreements. <\/p>\n The initiative fits into Aramco’s broader strategy of localizing and diversifying its procurement network while introducing more advanced digital technology into its upstream and downstream operations. For equipment suppliers, closer procurement relationships with one of the world’s largest oil producers could provide access to significant long-term demand as Saudi Arabia continues investing across its energy and industrial sectors. <\/p>\n The digital component also reflects a wider industry push toward AI, predictive analytics and digital-twin systems, which energy companies are increasingly using to optimize facilities, reduce downtime and improve maintenance and production decisions. <\/p>\n The agreements further deepen commercial links between Saudi Arabia and France as Riyadh seeks international technology and industrial partnerships alongside its domestic economic diversification program. <\/p>\n By Charles Kennedy for Oilprice.com <\/p>\n More Top Reads From Oilprice.com <\/p>\n Oilprice Intelligence<\/a> brings you the signals before they become front-page news. This is the same expert analysis read by veteran traders and political advisors. Get it free, twice a week, and you’ll always know why the market is moving before everyone else. <\/p>\n You get the geopolitical intelligence, the hidden inventory data, and the market whispers that move billions – and we’ll send you $389 in premium energy intelligence, on us, just for subscribing. Join 400,000+ readers today. Get access immediately by clicking here.<\/a> <\/p>\n","protected":false},"excerpt":{"rendered":"Saudi Aramco has announced more than $3.7 billion in potential agreements with French companies as the oil giant…\n","protected":false},"author":2,"featured_media":595122,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5],"tags":[269160,343,114,58834,29302,269162,269161,85,83898,46,51988,4872],"class_list":["post-595121","post","type-post","status-publish","format-standard","has-post-thumbnail","category-business","tag-aramco-digital","tag-artificial-intelligence","tag-business","tag-digital-technologies","tag-digital-technology","tag-drilling-equipment","tag-french-companies","tag-il","tag-industrial-sectors","tag-israel","tag-saudi-aramco","tag-supply-chain"],"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/posts\/595121","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/comments?post=595121"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/posts\/595121\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/media\/595122"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/media?parent=595121"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/categories?post=595121"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/tags?post=595121"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}