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Saudi Aramco signs $10.4 billion worth of MOUs with companies

Reuters
FILE PHOTO: Visitors are seen at the Saudi Aramco stand at the Middle East Process Engineering Conference & Exhibition in Manama, Bahrain, October 9, 2016. REUTERS/Hamad I Mohammed/File Photo

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 (SLBG34.SA) worth 6 billion riyals.

($1 = 3.7502 riyals)

(Reporting By Rania El Gamal and Reem Shamseddine)