Aramco Signs 145 Agreements & MoUs Worth $9 Billion

Saudi Aramco signed 145 agreements and Memoranda of Understanding (MoUs) worth around $9 billion at the In-Kingdom Total Value Add (iktva) Forum & Exhibition 2025. These agreements aim to advance the localization of goods and services in Saudi Arabia, boosting local content in the supply chain and fostering collaboration.

Key Highlights:

ASMO Joint Venture: A joint venture between Saudi Aramco Development Co. and DHL, ASMO commenced operations in Riyadh to redefine the procurement and supply chain landscape in the MENA region.

Novel Non-Metallic Solutions Facility: Inaugurated at King Salman Energy Park, this facility is a joint venture between Aramco and Baker Hughes, focusing on developing and commercializing composite products.

NMDC Offshore Fabrication Yard: Located at Ras Al Khair, this yard provides maritime engineering, equipment, material manufacturing, and fabrication services.

These initiatives are part of Aramco's efforts to enhance supply chain resilience and promote economic growth in Saudi Arabia.

Besides, there are Indian entities among the companies that signed MoUs with Saudi Aramco at the iktva Forum & Exhibition 2025. One notable example is the Indian Strategic Petroleum Reserves Limited (ISPRL), which signed a Memorandum of Understanding (MoU) with Saudi Aramco. This MoU aims to enhance strategic petroleum reserves and strengthen energy security in India.