The two firms say their long-term strategic partnership will lead to the further development of efficient internal combustion engines, advanced lubricants, high-performance sustainable fuels and the implementation of non-metallic materials in vehicles.
Aramco's tie-up with Aston Martin also includes team sponsorship rights and a licensing agreement. As a result, the team will now be named Aston Martin Aramco Cognizant Formula One Team.
The Dhahran-based company will work with the Aston Martin team on R&D efforts to meet F1's target to use only sustainable fuels by 2025. The partnership will also look at making hybrid engines in motorsport more efficient and developing and commercialising fuel-efficient engine technologies for road vehicles.
Aston Martin chairman Lawrence Stroll said: “We're in the sport to win, so I'm delighted to welcome an incredible partner of the stature of Aramco, who I have learnt from this process has a tremendous amount of intellectual property and technical capability, which I know will greatly assist our team to achieve our goals of winning Formula 1 world championships.
"Our historic partnership demonstrates the scale of our ambition to make our team a pioneering and winning force in Formula 1."
Mohammed Al Qahtani, senior vice-president downstream at Aramco, said: “The partnership reflects Aramco’s efforts to reduce emissions in the global automotive and transport industries.
“Our ambition is to supply premium fuels and lubricants to the global automotive sector, and our tie-up with the Aston Martin team will help drive awareness of our high-quality products.
"It's an alliance that harnesses our shared commitment to engineering excellence and innovation and has the potential to deliver winning results both on and off the track.”