Under the terms of the MoU between ADNOC and Saudi Aramco, the two companies will collaborate on identifying technologies that could deliver improved operational performance and efficiency across the oil and gas value chain.
UAE Minister of State and ADNOC Group CEO Dr Sultan Ahmed Al Jaber said: “This agreement reinforces our renewed approach to partnerships, which are aimed at leveraging and building on existing industry expertise. Innovation and technology are critical to our growth strategy, and there is a strong focus on integrating new technologies into our upstream and downstream operations.”
Amin H Nasser, president and CEO, Saudi Aramco, said: “The MoU will bring many benefits for both our companies. ADNOC and Saudi Aramco have successful records of investing in technology. In addition to in-house networks, both companies have a wide range of collaborative relationships with leading energy institutions.”
Saudi Aramco, Masdar MoU
Under the terms of the agreement between Masdar and Saudi Aramco, the firms will collaborate on sustainable development and renewable energy to yield advancements in clean electricity generation and carbon capture for Saudi Arabia, the UAE and the world.
Yasser Mufti, executive director for new business development at Saudi Aramco, said: “We are embarking on an ambitious program in sustainable energy, including renewables and CO2 capturing and are also supporting the research and development efforts of various organizations and institutes in the Kingdom to promote renewables use in power generation and water desalination.”
He added: “This MoU will facilitate cooperation in research and development, education and sustainable awareness on the basis of each company’s experience in the development and deployment of sustainability programs.”
Masdar CEO Mohamed Al Ramahi said: “Working with Saudi Aramco will provide substantial insight into their unparalleled experience of deploying large-scale energy projects. The growth potential for renewables in Saudi Arabia is vast and through our partnership we look forward to supporting the delivery of affordable and sustainable energy in the Kingdom.”