NEWS - MENA
Saudi Aramco Signs 1 Spa and 9 MOUS with
Russian Companies
S
audi Aramco President & CEO Amin H. Nasser attended the Saudi
– Russian CEO Forum hosted in Riyadh as part of the state visit of
the Russian President Vladimir Putin. At the Forum, Nasser noted the
growing importance of Saudi Aramco’s evolving strategic relationship
with Russian companies.
After the CEO Forum, Saudi Arabia’s King Salman Bin Abdulaziz Al
Saud and Russia’s President Vladimir Putin alongside HRH the Crown
Prince Mohammed bin Salman bin Abdulaziz, oversaw the signing of a
confirmation agreement between Saudi Aramco, the Public Investment
Fund of Saudi Arabia (PIF), the Russian Direct Investment Fund (RDIF)
and Rusnano to enter into a Share Purchase Agreement (SPA) to acquire
Rusnano’s 30.76% share in Novomet, a leading Russian service provider
and manufacturer of high-tech electrical submersible pumps. The deal
is expected to close early next year, subject to regulatory approvals and
closing conditions.
Mr. Nasser, said: “Today‘s agreement is expected to enable future
investments in both Saudi Arabia and Russia that come under the
framework of the Saudi – Russian Energy Co-investment Platform
through Saudi Aramco, PIF and RDIF, targeting to promote investments
in the energy sector in both Saudi Arabia and Russia. We look forward
to expanding our mutual interests in the energy sector through this
important co-investment platform with Russian companies.“
•
Saudi Aramco also entered into 9 additional Memorandum of
Understanding (MOUs) with major Russian companies as part
of Saudi Aramco’s upstream strategy, which were signed with the
following Russian companies:
• Gazprom Neft: An MOU between Saudi Aramco and Gazprom
Neft. The agreement aims to exchange technical knowledge for oil
applications and identify mutual technical studies of interest to
both companies.
• Angara Service: An MOU between Saudi Aramco and Angara
Service for special chemicals and cleaning services with existing
service providers to Saudi Aramco’s oil refineries and production
sites.
• Chelpipe : An MOU between Saudi Aramco and Chelpipe to
localize production of ball valves in Saudi Arabia through a joint
venture with a local partner.
• Galen: An MOU between Saudi Aramco and Galen to localize
fiberglass rebar.
• Integra: An MOU between Saudi Aramco and Integra for a
manufacturing facility for downhole drilling motors, drilling tools
and bottom hole assembly (BHA) components.
• NKT: An MOU between Saudi Aramco and NKT for submersible
cable lines protectors.
• Technovek: An MOU between Saudi Aramco and Technovek for
equipment and parts for wellhead equipment.
• PAO “TMK”: An MOU between Saudi Aramco and PAO “TMK”
for Line Pipe and OCTG components such as drilling, casing and
tubing material.
• Intratool: An MOU between Saudi Aramco and Intratool to
localize hot tapping, line stopping split tees, and repair features. •
Best Route to Compliance
• Mass / Energy Balance
• Loss Control
• Uncertainty Analysis
• Diagnostics
• Site & System Audits
• FAT / SAT
• Metrological Life Cycle Management
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