Aramco signs $3.7bn supply deals with French firms at Saudi-French roundtable
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Saudi and French companies have signed purchase agreements, memoranda of understanding and financing deals covering energy, industry, artificial intelligence and aviation.
The agreements were concluded during the French-Saudi Investment Roundtable, held on the sidelines of Crown Prince and Prime Minister Mohammed bin Salman’s state visit to France.
The deals are intended to expand economic and investment cooperation between the two countries and create partnership opportunities for Saudi and French companies and institutions.
Aramco supply agreements
Saudi Aramco signed purchase agreements worth about $3.7 billion with French companies SLB and Vallourec.
The companies will supply materials used to drill oil and gas wells, along with steel pipes for oil and gas fields.
AI and virtual twin technology
Aramco Digital signed a memorandum of understanding with Dassault Systèmes to cooperate in artificial intelligence and virtual twin technologies.
The two companies will also explore potential applications for these technologies in the oil and gas sector.
Electricity-grid financing
Saudi Energy signed a cooperation and financing agreement with French public investment bank Bpifrance to support the development and modernisation of Saudi Arabia’s electricity grid.
The agreement builds on a memorandum of understanding signed in November 2025 to establish a financing facility worth up to $3 billion.
The facility will provide a financing framework for the company’s procurement programme and electricity infrastructure projects.
Financing for Airbus aircraft
The Saudi Export-Import Bank signed a tripartite memorandum of understanding with Saudia Group and Crédit Agricole Corporate and Investment Bank.
The agreement covers financing arrangements for Saudia Group’s acquisition of new Airbus aircraft.
Saudi EXIM, acting as the Kingdom’s export credit agency, will provide insurance coverage against credit risks associated with the transaction.
The arrangement combines financing from an international bank with Saudi export credit instruments.
It is intended to improve access to international financing for companies and projects connected to Saudi exports.
The financing will also support Saudia Group’s plans to expand and modernise its fleet and strengthen its operations in international markets.