Riyadh - Mubasher: The CEO of Saudi Aramco Amin Nasser said on Saturday that his company is expecting to sign $50 billion worth of deals with American companies to diversify the kingdom’s energy resources, according to Reuters.

Amin Nasser added during the Saudi-US CEO Forum 2017, which is held on the sidelines of the US president Donald Trump visit to Riyadh, that 16 agreements, including memorandums of understanding (MoU), are expected to be signed with 11 firms.

Last year, the world’s largest oil company launched its In-Kingdom Total Value Add Programme (IKTVA), through which it said it was planning to double the percentage of locally-produced energy-related goods and services to around 70% by 2021.