Saudi Aramco has signed an agreement with National Energy Services Reunited (NESR) to develop the region’s first direct lithium extraction (DLE) demonstration project. The project is valued at approximately $200 million.
It aims to produce 2,000 tons of battery-grade lithium carbonate annually. Production is planned to start in late 2027.
The project marks Aramco’s strategic entry into the lithium market, drawing on its subsurface expertise to target demand from the growing electric vehicle and energy storage industries. It will use NESR’s LiThara™ DLE platform, designed for efficient, scalable lithium extraction from brine. The agreement runs for up to five years.