Saudi Aramco has signed an agreement with National Energy Services Reunited (NESR) to develop Saudi Arabia’s first lithium project. The contract runs for five years and is valued at up to approximately $200 million.
The project will produce battery-grade lithium carbonate from brine, with a target of 2,000 tons annually. Commissioning and initial production are slated for late 2027.
The agreement combines NESR’s direct lithium extraction (DLE) technology platform with Aramco’s subsurface and operational expertise. The project marks a diversification move for Aramco and a step toward Saudi Arabia’s entry into the global battery materials market.
The partnership reflects a broader trend of oil and gas companies investing in materials critical to the energy transition. Aramco is positioning itself to serve growing demand for lithium from the electric vehicle and energy storage sectors, as it expands beyond traditional hydrocarbons.