Aramco has signed a purchase agreement for oil country tubular goods (OCTG) with French tubular products maker Vallourec, according to media reports, as part of a package of agreements and a memorandum of understanding with French companies with a potential combined value of more than USD 3.7 billion.
Aramco did not identify the companies involved in the OCTG agreement in its announcement. Media reports have identified Vallourec and oilfield services company SLB among the companies involved.
The OCTG agreement covers tubular products used in oil and gas wells and is expected to support Aramco’s supply chain and operational continuity. Aramco said the broader partnerships focus on project support, capacity and capability development, technology transfer and innovation, and supply chain resilience.
The agreements were announced during the French-Saudi Investment Roundtable in Paris during Saudi Crown Prince Mohammed bin Salman’s visit to France.