Saudi Aramco signs $10.4 billion worth of MOUs with companies

DAMMAM, Saudi Arabia (Reuters) – Saudi Aramco [IPO-ARMO.SE] signed on Wednesday agreements with foreign and local companies worth at least 39 billion riyals (8 billion pounds).

The bulk of the memorandum of understanding agreements were part of a drive to promote local manufacturing, the company said. One agreement was also signed with drilling and oil service company Schlumberger (SA:) worth 6 billion riyals.

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