PRESS RELEASE
Saudi Aramco Signs MOUs with Leading Turkish companies,
Enabling Further Participation in Saudi Vision 2030

MOUs signed to enable Turkish companies to bid for Saudi Aramco projects

HE Khalid Al-Falih, Minister of Energy says MOUs provide formal framework for future
collaboration on multiple capital projects
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Saudi Aramco CEO Amin Nasser says cooperation will focus on construction and
related services sector
Istanbul, October 11, 2016 – Saudi Aramco signed today a series of Memoranda of
Understanding (MoU) with 18 Turkish industrial enterprises, adding new potential partners to
the company’s slate of future capital projects, promoting diversification and infrastructure
enhancement in support of Saudi Vision 2030.
The MoU’s will strengthen Saudi-Turkish business and economic cooperation, which has been
growing steadily over the past decade, reflected in increased bilateral trade and investment
between the region’s two leading economies. The agreements also have the potential to expand
commercial partnerships between the two countries.
The signing ceremony was presided by H.E. Khalid Al Falih, Minister of Energy, Industry and
Mineral Resources, H.E. Berat Albayrak, Turkish Minister of Energy and Natural Resources , Amin
H. Nasser, President and CEO of Saudi Aramco, and several Turkish business leaders.
Nasser said, “The MoUs will help further the development of business opportunities between the
two countries and we look forward to working with Turkish firms on future projects. These efforts
continue to underscore the commitment by Saudi Aramco towards achieving Saudi Vision 2030,”
adding that because the Vision places special emphasis on localization, “we will double the
percentage of locally-produced energy-related goods and services to 70% by 2021. This is a great
opportunity for Turkish companies, particularly to bring their expertise and invest in the
Kingdom’s future.”
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The Turkish companies represent leading players in a diverse range of business activities,
including power generation, airport construction and management, petroleum, and roadways.
Some of the companies have an existing track record of successful investment in Saudi projects
such as the Manifa Field development, the Jeddah Storm Water projects, Medina Airport, Riyadh
Water Transmission System, the Jubail Railway Network, and the Yanbu Industrial City Residential
Facilities.
About Saudi Aramco:
Saudi Aramco is a world leader in integrated energy and chemicals. We are driven by the core belief that energy is
opportunity. From producing approximately one in every eight barrels of the world’s crude oil supply to developing
new energy technologies, our global team is dedicated to creating positive impact in all that we do. We focus on
making our resources more sustainable and more useful. This promotes long-term economic growth and prosperity
around the world.
www.saudiaramco.com
Contact:
Saudi Aramco International Media Relations
Email: [email protected]
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