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Novomet to supply equipment to Saudi Aramco, second contract is planned

It was reported earlier that Perm-based Novomet, the Russian producer of oil and gas equipment, will become the Russia’s first equipment vendor for Saudi Aramco after obtaining an accreditation

DAVOS, January 22. /TASS/. Saudi Aramco made the first contract with the Russian company Novomet on oil and gas equipment supply and the second one is discussed, chief executive of the Russian Direct Investment Fund (RDIF) Kirill Dmitriev said on Wednesday.

"[Saudi] Aramco has already concluded the first contract on equipment procurement from Novomet. The second contract is discussed in Aramco, which can be five times above the first one," Dmitriev said.

RDIF and Saudi Arabia’s representatives are currently also discussing investment projects in Russia, including more than five petrochemical ones, "which can be of interest in terms of the partnership for SABIC and Saudi Aramco," he added.

It was reported earlier that Perm-based Novomet, the Russian producer of oil and gas equipment, will become the Russia’s first equipment vendor for Saudi Aramco after obtaining an appropriate accreditation.