Saudi Aramco and Weatherford International have signed a five-year corporate procurement agreement to deliver cementation, completions, liners, solid expendables and casing exit technologies, according to a company statement.

The aim is to establish a strong foundation for future collaboration between the two companies, built on the forefront of oilfield technology and unsurpassed value.

Both companies look forward to developing oilfield technologies that minimize costs and maximize production.

“Weatherford is energized by the opportunity afforded by Saudi Aramco to deploy our revolutionary technology in the Kingdom, which will save rig time and associated costs, while also maximizing production in one of the world’s most challenging environments,” said Weatherford Vice President for Saudi Arabia, Jim Hollingsworth.

Meanwhile, the Vice President for Procurement and Supply Chain Management in Saudi Aramco, Mohammed Shammary, commented, “We look forward to working with Weatherford to develop breakthrough energy technologies and reinforce our position in oil and gas exploration and production. Their robust product portfolio aligns with our goal to safely achieve production while supporting the sustainable development of the Kingdom.”