Riyadh – Mubasher: Saudi Arabian Oil Co, known more commonly as Saudi Aramco, has signed a procurement deal with Russia’s Novomet to supply Russian-made pumping equipment to the Saudi oil giant.
The main parameters of the deal were finalised by the Russia Direct Investment Fund (RDIF) and Saudi Aramco in December, according to an official statement on Wednesday.
“We have finalised the main parameters of the Novomet deal to supply Russian-made pumping equipment to Saudi Aramco and other companies, and Saudi Aramco will become an investor in this project,” Novomet’s CEO Krill Dmitriev said.
The Russian News Agency (TASS) reported earlier that Saudi Arabia’s minister of energy, industry, and mineral resources, Khalid Al-Falih had stated that Saudi Arabia’s sovereign wealth fund was close to entering into an investment in Russian oil production equipment manufacturer Novomet and Eurasia Drilling Company.
