Goldman Sachs and Citigroup will be among the leading coordinators of Saudi Aramco’s IPO, expected later this year, international media reported on Monday.

Saipem and Saudi Aramco to create engineering arm

DHAHRAN, September 22, 2021 – Saipem and Saudi Aramco have signed an MoU with the possibility of creating a new construction and engineering entity, the Italian oilfield services company announced on Tuesday.

The goal is to create a national entity to handle EPC activities.

The move is part of Saudi Aramco’s Nama’at Investment Industrial Program established in early September 2021, which aims to expand the country’s capacity in sustainability, technology, industry and manufacturing.

The new programme has so far seen MoUs signed for various sectors with chemicals company Solvay, French utility services company Veolia and oilfield services companies Halliburton and Schlumberger.

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