Saudi Aramco signs (5) agreements with French companies

The Saudi Arabian Oil Company “Saudi Aramco” announced the signing of five agreements with leading French companies, including an agreement to explore business opportunities in hydrogen-powered vehicles with JOSEN, a leader in clean and smart transportation solutions.

The agreements were signed during workshops organized by the Ministry of Investment in Jeddah to explore investment opportunities for French companies in the Kingdom, in the presence of His Excellency the Minister of Investment, Eng. Khalid bin Abdulaziz Al-Falih, His Excellency the Minister Plenipotentiary for Foreign Trade and Economic Attraction in France, Franck Riester, and the President of Saudi Aramco and Chief Executive Officer Eng. Amin bin Hassan Al-Nasser and a number of company officials and heads of French companies.

On this occasion, Saudi Aramco President and Chief Executive Officer, Eng. Amin bin Hassan Al-Nasser, said: “Saudi Aramco’s relationship with the French business sector was and still is strong and includes a wide range of fields such as refining, marketing, chemicals, research and development, most notably the SATORP refinery in Jubail, and Terminals Sales Company. Retail fuels, both in cooperation with the French company Total Energy, in addition to several French companies known for their global leadership and distinguished reputation, as Saudi Aramco has strong relationships with many of these French companies such as Schlumberger, Technip, Air Liquide, the leading company ENGIE in the electricity sector, and a research institute French petroleum.

He explained that there are about 500 manufacturers and about 90 French service providers accredited to the company, and if we look to the future of the partnership, there is a very large scope for cooperation in the field of sustainability and technology such as hydrogen and carbon sequestration, these areas have a direct impact on the goals of reducing carbon emissions and achieving zero neutrality, and we are working with French authorities to enhance their investments in the Kingdom and raise local content in goods and services in line with Vision 2030.

With regard to the agreements that were signed, they include the beginning of a distinguished cooperation with a company such as “Goosen” to promote hydrogen and promote it as a transportation solution, and the agreement allows us to advance economic growth and sustainability in the Kingdom as part of the (Aramco Aramco) program for industrial investments.

Saudi Aramco will also sponsor the world’s first hydrogen-fueled racing truck developed by JOSEN, marking a new turning point for motorsport and the global transportation sector, as the agreement between Saudi Aramco and JOSEN aims to establish a state-of-the-art facility to manufacture hydrogen-powered vehicles. In the Kingdom, as a first step, (Josen) and Saudi Aramco will study the feasibility of this facility and hydrogen distribution business to serve the Middle East region.

The two companies agreed that the Center for Advanced Innovations (Laboratory 7) at Saudi Aramco would closely participate in the efforts of the hydrogen-powered company, Goosen, to develop an autonomous or remotely controlled hydrogen-powered racing truck. innovation, in incorporating the company’s composite materials into the existing range of products produced by JOSEN; In order to reduce the weight, energy consumption and costs of these vehicles, Saudi Aramco will also sponsor the world’s first hydrogen-fueled racing truck developed by Gossen Company, and it will compete in the Dakar Rally in 2022 AD, which will be held in the Kingdom next January, with the aim of highlighting the importance of developing low-cost transportation technologies emissions.

Other announced agreements seek to enhance research and development at Saudi Aramco in the areas of carbon capture technology, artificial intelligence, and local manufacturing. These include Air Liquide MoUs, a non-binding MOU to assess production and transport of ammonia and low-carbon hydrogen, and reverse cracking technology. an additional, non-binding memorandum of understanding to assess carbon capture and sequestration opportunities; To enhance Saudi Aramco’s efforts to reduce carbon emissions from the energy it produces, and Altea – which is a non-binding memorandum of understanding to develop advanced capabilities in the Kingdom to interpret and process ground images captured by drones and satellites, and enhanced by artificial intelligence, in addition to Axness, which is a non-binding memorandum of understanding to explore Local manufacturing and maintenance services for fuel-burning furnaces and heaters.


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