Saudi Arabia’s Aramco said it had signed agreements and a memorandum of understanding (MoU) with French companies potentially worth more than $3.7bn, covering artificial intelligence (AI) and digital twin partnerships, among other areas of the energy sector.
The energy giant said the collaborations, announced during an August visit to Paris by Saudi Crown Prince Mohammed bin Salman, would improve operational continuity and efficiency, and support the development of industrial AI and digital technologies.
Among focus areas are project support, capacity building and capability development, technology transfer and innovation, and supply chain resilience.
Deals included purchase agreements between Saudi Aramco and French-linked firms SLB and Vallourec for the supply of oil and gas well drilling materials and steel pipes for oil and gas fields, according to the Saudi energy ministry. Aramco Digital also signed an MoU with Dassault Systèmes to cooperate in artificial intelligence, and virtual twin technologies, including potential oil and gas sector applications
These partnerships were part of a wider set of agreements between France and Saudi Arabia signed at a meeting of the French-Saudi Investment Roundtable, which was attended by both bin Salman and French President Emmanuel Macron.
Trade and investment agreements were also signed in areas such as AI, industry, financial services, transport, health, culture and tourism, in addition to energy. In the power sector, Saudi Energy signed a cooperation and financing agreement with public investment bank Bpifrance to support development and modernisation of Saudi Arabia’s electricity grid.
The leaders highlighted the need to strengthen strategic cooperation in sectors such as oil and petrochemicals, sustainable electricity generation, renewable energy, energy storage, peaceful nuclear energy, clean hydrogen, and emissions reduction and removal technologies. The two sides also stressed the importance of cooperation on climate issues and related technology solutions.
Plans were also unveiled for a $7bn manga-themed amusement park complex to be built near Paris. The project, to be led by the Qiddiya arm of Saudi Arabia’s sovereign wealth fund, is forecast to create some 22,000 jobs. Macron and bin Salman reportedly have a shared enthusiasm for manga, particularly Dragon Ball Z.
Bilateral trade between France and Saudi Arabia totalled some $11.8bn in 2025, according to a joint statement from the two countries issued during the visit.
Technology pacts
The agreements with French firms are the latest in a fast-swelling list of accords signed by the Saudi government and Aramco with foreign partners over recent years, as the country seeks to modernise its economy, equip its energy sector with cutting-edge technology, and boost its AI know-how.
In July, Aramco awarded US oilfield services firm Halliburton a multi-year contract to deliver integrated stimulation and completion services for unconventional gas development in Saudi Arabia, as part of a broader multi-billion dollar contract for the sector. The state-controlled energy firm also signed a contract with Halliburton for lump sum turnkey (LSTK) contracts in multiple Saudi onshore fields.
The government and Aramco have also forged a series of pacts with global technology firms aimed at boosting the country’s AI capabilities, including a wide-ranging MoU signed with Microsoft in February. At the World Economic Forum in Davos earlier this year, Amin Nasser, Aramco’s CEO, said AI and advanced technologies had generated an estimated $3bn-5bn in realised value for the firm in 2025.
Aramco recently announced a year-on-year rise in adjusted net income of around 30% to $67.18bn in the first half 2026, boosted by higher prices for crude and petrochemical products. Nasser said the improvement, despite energy supply disruption in the Strait of Hormuz, also reflected the company’s strategic planning, diversified asset base, its development of alternative export routes and technology deployment, among other factors.
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