FRANCE (OBSERVATORY) – French oil and gas company Total is interested in the market of gas stations in Saudi Arabia, for this the company signed a memorandum of understanding with the state energy giant of the kingdom of Saudi Aramco, reports Reuters.
The Memorandum of Understanding was signed on April 10 during the visit of Crown Prince of Saudi Arabia Mohammed bin Salman to Paris, a company spokesman said.
At the meeting, preliminary agreements with French companies were signed, including Total worth about $ 12 billion.
Total and Aramco are considering a joint acquisition of operators of gas stations in Saudi Arabia, Reuters reported two sources familiar with this issue.
One source said that a deal worth between S $ 2 billion and S3 billion (£ 573.4 million) was discussed.
This week, the National Oil Company of Abu Dhabi received a license to operate gas stations in Saudi Arabia, the company said.