The Pentagon's Defense Security Cooperation Agency notified Congress late Monday about the possible sale, and released a statement on its website on Tuesday, according to Reuters.
"We stand ready to support that sale," Lockheed Chief Executive Officer Marillyn Hewson told analysts on an earnings call. She said the deal could be completed in 2016.
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The Pentagon’s office in charge of the sale of weapons and other military equipment (DSCA) said the major defense equipment involved in the deal was worth US$4.3 billion, with the rest going to fund extensive engineering, logistics and training required for the program.
In September, Reuters reported that Saudi Arabia was in advanced discussions with the U.S.
"The United Nations and other major human rights organizations have condemned the Saudis over their airstrikes against Yemen. Many NGOs suggested the United States was responsible for the onslaught in Yemen because the weapons being used are U.S.-made and sold to Saudi Arabia by Washington. The called on the Obama Administration to halt all sales of arms to the Saudis."
government about buying two of the ships, and could reach agreement by the end of the year. It was not immediately clear if the Persian Gulf country would buy all four ships at once.
Saudi Arabia intends to modernize their Navy's Eastern Fleet by replacing older U.S.-built ships with new ships based on the Littoral Combat Ships.
The sale will be the first major export in years of a newly built U.S.-manufactured surface naval vessel, and will enable the U.S. military to operate more easily with the Persian Gulf Cooperation Council countries.
"This sale demonstrates the enduring U.S. commitment to building robust diplomatic and security partnerships essential to promoting peace and stability in the Persian Gulf region," said one U.S. official who was not authorized to speak publicly.
The deal has been approved at a moment Saudi Arabia is under increasing criticism over the more than 2,400 civilian casualties it has caused in their airstrikes in Yemen since March 26.
About 7,000 people have reportedly lost their lives in the Saudi raids, including at least 500 children, while 14,000 have been injured.