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Saudi Aramco Signs 8 Agreements worth $4.5 Billion with International Companies

Oil tanks seen at the Saudi Aramco headquarters during a media tour at Dammam city November 11, 2007. REUTERS/ Ali Jarekji/File Photo
Oil tanks seen at the Saudi Aramco headquarters during a media tour at Dammam city November 11, 2007. REUTERS/ Ali Jarekji/File Photo
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Saudi Aramco Signs 8 Agreements worth $4.5 Billion with International Companies

Oil tanks seen at the Saudi Aramco headquarters during a media tour at Dammam city November 11, 2007. REUTERS/ Ali Jarekji/File Photo
Oil tanks seen at the Saudi Aramco headquarters during a media tour at Dammam city November 11, 2007. REUTERS/ Ali Jarekji/File Photo

Saudi Aramco has signed eight agreements with several companies worth $4.5 billion to develop oil and gas production facilities as part of a program to boost energy efficiency, diversify the economy, expand gas production and increase national content.

Eng. Amin Hassan Al Nasser, President and CEO of Saudi Aramco, said during a ceremony to sign the agreements that part of the expansion of gas production will go to the water and power plants in Saudi Arabia and another part will go to the petrochemical industries.

“The plan for Saudi Aramco is to raise the use of gas in desalination plants and electricity from 50 to 70 percent, which is one of the highest in the world,” Nasser said, stressing that petrochemical plants, which would be established in the coming period, would be provided with feedstock.

Eight agreements were signed, including three agreements with Madrid-based Técnicas Reunidas under the Gas Compression Program in the Southern Area.

The project will improve and sustain gas production from Haradh and Hawiyah fields for the next 20 years. The Hawiyah Gas Plant (HGP) Expansion Project will provide additional gas processing facilities to process raw sweet gas, to efficiently meet the Kingdom’s energy demand. The contract will be awarded to the Italian firm SNAMPROGETTI (Saipem).

Other agreements signed on Thursday cover the Free Flow Pipeline Contract for Haradh and Hawiyah (with China Petroleum Pipelines Company); engineering and project management services for the Zuluf Field Development Program (with Jacobs Engineering Inc.); the Pipeline and Trunk line Project of Safaniyah Field (with Abu Dhabi-based National Petroleum Construction Company (NPCC); and the Slipover Platforms and Electrical Distribution Platform Project in Safaniyah Field (with McDermott Middle East).

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‘Saudi Architecture Characters Map’ Boosts City Appeal for Investment

Image of buildings in the “Najdi Architecture” style (Eastern Province Development Authority)
Image of buildings in the “Najdi Architecture” style (Eastern Province Development Authority)
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‘Saudi Architecture Characters Map’ Boosts City Appeal for Investment

Image of buildings in the “Najdi Architecture” style (Eastern Province Development Authority)
Image of buildings in the “Najdi Architecture” style (Eastern Province Development Authority)

Economic and architectural experts have described Crown Prince Mohammed bin Salman’s launch of the “Saudi Architecture Characters Map” as a strategic shift, transforming architecture into an economic asset for investment.

In statements to Asharq Al-Awsat, they emphasized that the initiative will enhance Saudi Arabia's competitive edge in the tourism and cultural real estate development sectors.

Additionally, it is expected to boost the sustainability of the tourism economy and stimulate the manufacturing industries, from local stone production to carpentry, traditional carvings, and decorative arts.

The move could also lead to the creation of specialized companies focused on reviving traditional crafts, gradually transforming them into export industries.

Featuring 19 distinct architectural styles inspired by the Kingdom’s diverse geographical and cultural characteristics, the initiative is expected to contribute over 8 billion riyals ($2.13 billion) to the cumulative GDP and create more than 34,000 jobs in engineering, construction, and urban development sectors by 2030.

This move is part of a broader effort to transform and develop Saudi cities.

As Chairman of the Supreme Committee for Saudi Architectural Design Guidelines, the Crown Prince said that Saudi architecture reflects the cultural and geographical diversity of the Kingdom.

“Saudi architecture blends our rich heritage with contemporary design thinking. We are enhancing urban landscapes and quality of life as well as building an architectural framework that balances the past and the present. This model will serve as a global source of inspiration for innovation in architectural design,” he said.

Dr. Mohammed Al-Qahtani, an economics professor at King Faisal University, told Asharq Al-Awsat that the launch of the Map by the Crown Prince is more than just a cultural or architectural announcement.

It represents a move with deep economic implications that redefines the investment and real estate landscape in Saudi Arabia, in line with a developmental vision that transcends traditional urban growth.

He emphasized that “the architectural identity of any country is one of the pillars of soft power, and when this identity becomes a standard for developmental projects, we are witnessing a strategic shift. Architecture becomes an economic asset to be invested in, extending beyond just aesthetic value.”

Al-Qahtani added that the unification of architectural identity means both local and international investors will reassess their plans in light of new requirements that demand higher quality, thereby increasing real estate market value and attracting capital seeking authentic and sustainable projects.