Riyadh – Mubasher: The Saudi Arabian Oil Company (Saudi Aramco) signed 66 Memoranda of Understanding (MoUs) and strategic and commercial collaborations worth a combined of more than $21 billion.

The deals were signed with international companies and entities from 11 countries in several industrial and business sectors across the Saudi Arabian energy sector, on the sidelines of the 5th In-Kingdom Total Value Add (iktva) Forum and Exhibition.

“iktva continues to open new doors of opportunity by enhancing the business environment for young Saudis, for entrepreneurs and for businesses, big and small. Ultimately, what counts is the impact it has on people’s lives – that’s iktva in action,” said Aramco’s President and CEO, Amin Nasser.

Aramco also signed an agreement with Baker Hughes to establish a 50/50 Non-Metallic Joint Venture (NM JV).

It is worth noting that the iktva Forum and Exhibition 2020 is being held on 24-25 February at the Dhahran Expo Center in Dammam.

On Monday, Saudi Minister of Energy, Prince Abdulaziz bin Salman, said that the ministry is cooperating with all stakeholders in the energy sector seeking optimum development.