Saudi Aramco has inked agreements with French oilfield service and supply companies to strengthen Saudi Arabia's drilling materials supply chain while Aramco’s subsidiary, Aramco Digital, signed a separate memorandum of understanding (MOU) to access industrial artificial intelligence along with virtual and digital-twin technologies.
The agreements, said to have a potential value exceeding $3.7 billion, were signed during the French-Saudi Investment Roundtable organized in Paris around the state visit to France by Saudi Crown Prince Mohammed bin Salman Al Saud.
Aramco did not identify which French companies had signed onto the agreements mentioned in its 24 August corporate announcement.
Aramco Digital however posted on social media that it had signed an MOU with Dassault Systèmes to establish a framework for potential collaboration in industrial Ai, virtual twin/digital twin technologies, and related technologies, including applications in the oil and gas sector.
Arabian Business reported that two other companies, SLB and Vallourec, had signed other agreements with Aramco: a multi-billion-dollar purchase contract to supply oil and gas well drilling materials and a purchase agreement for tubular goods certified under the oil country tubular goods standard.
SLB, Vallourec or Dassault did not issue statements confirming the awards.
Aramco CEO Amin Nasser, who attended the roundtable, said the partnerships would strengthen Aramco’s supply chain, improve operational continuity and efficiency, and expand technology transfer and innovation.
Delegates from both countries, senior government officials and executives, discussed financing major developments, industrial partnerships, transport and logistics, and artificial intelligence and digital infrastructure, according to an article published by Morning Star financial media.
Morning Star quoted Saudi Investment Minister Fahad Al-Saif as saying that France had become Saudi Arabia’s 4th largest source of foreign direct-investment, doubling over 5 years to a total of €16.3 billion in 2024.
Arabian Business reported in early August that Saudi Arabia had attracted $36.3 billion in foreign direct investment in 2025 representing a 14% year on year increase. Saudi Arabia now ranks 13th globally in terms of foreign direct investment.