Saudi Aramco and Baker Hughes have formed a 50/50 joint venture (JV), Novel Non-Metallic Solutions Manufacturing (Novel), to develop a broad range of non-metallic products for multiple applications in the energy sector.
Novel’s new facility is being developed at King Salman Energy Park in Saudi Arabia’s Eastern Province (SPARK) which is a 50-square-kilometer energy city aimed to make Saudi Arabia a global energy, industrial, and technology hub. The new facility aligns with Saudi Arabia’s Vision 2030 in encouraging the development of an evolving and innovative oil sector. It is worth noting that the JV aims to seek new opportunities in oil-based products and to reduce carbon emissions.
Aramco’s Senior Vice President for Technical Services, Ahmad Al Sa’adi, stated that “non-metallic products are reshaping the industries and products we all depend on because they are more reliable, cost effective and offer sustainability benefits. The partnership with Baker Hughes reinforces our commitment to expanding the use of innovative non-metallic materials in our operations to drive efficiency and reduce maintenance and replacement costs, while also positively impacting the Kingdom’s economic development through job creation and local expertise.”
Additionally, Neil Saunders, Executive Vice President, Oilfield Equipment, Baker Hughes, mentioned that “as an energy technology company, we are investing for growth in strategic areas like non-metallics, and our deep background in non-metallic product development will benefit a wide range of industries.”