Russian Direct Investment Fund close to equipment deal with Saudi Aramco

Saudi Aramco is looking for opportunities in Russia

Russia’s Direct Investment Fund (RDIF) is finalising a deal to supply pumping equipment to Saudi Aramco, CEO Kirill Dmitriev told Russian media outlets.
In an interview with Russia’s Rossiya 24 TV station, Dmitriev said that Saudi Aramco “is a very important partner” of the Russian sovereign wealth fund.
“Right now, we have finalised the main parameters of the Novomet deal to supply Russian-made pumping equipment to Saudi Aramco and other companies, and Saudi Aramco will become an investor in this project,” he said.
Dmitriev added that a number of potential investments for Saudi Aramco in Russia are currently being considered.
“There is a chance to attract billions of dollars from Saudi Aramco into Russia,” he said.
In an earlier interview with Russia’s state-run TASS news agency, Saudi energy minister Khalid Al-Falih said that Saudi Aramco and the kingdom’s Public Investment Fund are close to investing in drilling equipment manufacturer Novomet and in the Eurasia Drilling Company.

As published on Arabian Business.

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