Aramco signs $3.7bn in agreements with French companies

GHADA.ISMAIL

Aug 25, 2026

Collaborations target supply chain resilience, industrial AI and technology transfer between Saudi Arabia and France

Riyadh – Sharikat Mubasher: Saudi Aramco announced inking a number of agreements and a Memorandum of Understanding (MoU) with French companies worth more than $3.7 billion combined.

As per Aramco’s press release, the collaborations were announced during the French-Saudi Investment Roundtable Meeting, attended by Amin H. Nasser, Aramco President and CEO. They are aimed at strengthening Aramco’s supply chain, improving operational efficiency and continuity, and advancing industrial artificial intelligence and digital technologies.

The agreements include a corporate procurement agreement for drilling equipment and a purchase agreement for Oil Country Tubular Goods (OCTG).

Aramco Digital also signed an MoU establishing a framework for potential collaboration in industrial AI, virtual and digital twin technologies, and related applications, including in the oil and gas sector.

The partnerships are expected to support capacity and capability development, technology transfer, innovation and supply chain resilience, while generating economic value for both Saudi Arabia and France.

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Riyadh - Sharikat Mubasher: Raff, a technology-driven inventory management platform based in Saudi Arabia, successfully closed a $1.7 million pre-seed funding round led by Vision Ventures, with participation from 500 Global, Palm VC, Oqal Group, Salman Butt, co-founder of Salla, among others.Raff will use the new capital to fuel its regional expansion across the GCC, accelerate product development, and scale its AI capabilities to continue simplifying how consumer brands expand into physical retail, the company stated in a press release today.Founded in 2024, Raff offers an end-to-end platform that digitizes distribution, commercial operations, inventory management, order fulfillment, and payments, making it easier for brands to expand their presence across physical retail channels.For retailers, the platform automates key workflows and simplifies the management of a growing vendor network, while integrating with leading point-of-sale and accounting software in the region.Ali Al Qudah, co-Founder and CEO of Raff, commented: “We built Raff after experiencing firsthand how difficult it was for growing brands to move beyond online sales. While the barriers to launching an e-commerce business have never been lower, reaching customers through physical retail still requires brands to navigate multiple operational and commercial hurdles. Our mission is to simplify that journey and give brands a faster and more efficient way to reach offline customers.”He said the investment will help Raff accelerate its vision, expand across the GCC, and continue building the infrastructure powering the next generation of retail.In turn, Kais Al-Essa, founding partner and CEO of Vision Ventures, said: “We are excited to partner with Ali and the Raff team as they represent the caliber of high-execution talent that we look for. We previously supported the shift from offline to online through our early investment in Salla. Today, we see an equally significant opportunity as brands look to expand from online into physical retail. Raff is solving a high-friction challenge at the intersection of retail technology and logistics, creating a new efficiency layer for commerce across the region."Since its launch, Raff has enabled over 900 brands across nine countries to grow their presence through physical retail channels.

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