Siemens and Saudi Aramco sign strategic procurement agreement
Siemens and Saudi Aramco have signed a corporate procurement agreement (CPA). This corporate-level agreement will strengthen cooperation between the two companies. In addition, a sub-procurement agreement grants Saudi Aramco improved access to Siemens Oil and Gas Division’s rotating equipment and services. This will lead to more cost efficiency for both companies due to reduced project times.
“We have worked closely with Saudi Aramco to better understand its needs and requirements,” said Tom Blades, CEO of the Siemens Oil and Gas Division. “This corporate procurement agreement with Saudi Aramco demonstrates our commitment to the kingdom of Saudi Arabia. At the same time Saudi Aramco will have even better access to Siemens´ global service and manufacturing network.”
The agreement will enable Saudi Aramco to take advantage of the rotating equipment portfolio of Siemens Oil and Gas Division. Initially for a period for seven years, the CPA will cover low-emissions gas turbines with a capacity of up to 50 megawatts (MW) for a wide range of applications, high-efficiency steam turbines with ratings up to 200 MW, and compressors and blowers. Shop and field services and spare parts are also included in the CPA.
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