Saudi Aramco signed early April two different memorandums of understandings (MoU) covering energy and oil and gas technology, Hellenic Shipping News reported.
Hellenic Shipping added that the first MoU was signed with Abu Dhabi National Oil Company (Adnoc). The deal establishes a collaboration to identify technologies that could deliver improved operational performance and efficiency across the oil and gas value chain.
Commenting on the agreement, the UAE’s Minister of State and Adnoc’s CEO, Sultan Ahmed Al Jaber, stated, “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, as we work to harness maximum value.”
The second MoU was signed with Masdar, establishing a collaboration on sustainable development and renewable energy. The deal looks to improve the generation of clear electricity and reduce the carbon emissions in Saudi Arabia and the United Arab Emirates (UAE), Gulf News informed.
Saudi Aramco’s Executive Director of New Business Development, Yasser Mufti, commented that the agreement “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.”