Saudi Aramco will sign agreements with U.S. companies valued at about $50 billion on Saturday, the first day of President Donald Trump’s visit to the kingdom, according to Chief Executive Officer Amin Nasser.

The company will sign initial accords and joint-venture deals with companies including General Electric Co., oil field-service businesses Schlumberger Ltd. and Halliburton Co., Nasser told reporters in Riyadh.

These companies are “trying to expand their footprint in the kingdom by expanding trade between the two sides,” he said.

Trump is making Saudi Arabia his first overseas stop in an eight-day trip that will also take him to Israel and Europe. Executives from dozens of top U.S. companies as well as leaders and representatives from 54 Arab and Muslim countries will be present during his two-day stay in the kingdom, a close U.S. ally.

The world’s biggest crude oil exporter also plans to sign accords also with Baker Hughes Inc., KBR Inc., Jacobs Engineering Group Inc., Nabors Industries Ltd., Weatherford International Plc, McDermott International Inc. and Rowan Companies Plc, two people familiar with the matter said earlier this week. More

By Matthew Martin, Glen Carey and Vivian Nereim  bloomberg.com

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