You are currently viewing: News



29-10-2019

Saudi Aramco signs seven MoUs at The Future Investment Initiative

Saudi Aramco today announced its intention to establish the Jazan Power Joint Venture. The JV will be 46% owned by Air Products, 25% by ACWA Power, 20% by Saudi Aramco and 9% by Air Products Qudra. In addition, the Company signed seven MoUs at the Future Investment Initiative (FII) in Riyadh, Saudi Arabia.

Ahmad A. Al-Sa’adi, Saudi Aramco’s Senior Vice President of Technical Services, attended FII in addition to Nabil Al Nuaim, Saudi Aramco’s Chief Digital Officer, who headlined a panel discussion on how business can best leverage data to anticipate risks, improve performance and optimize operations.

Senior Vice President of Technical Services, Ahmad A. Al Sa’adi, reaffirmed the Company’s position, saying: “Saudi Aramco aims to promote business investment opportunities through technology across the Kingdom’s energy services sector ecosystem. The agreements signed today support the Kingdom’s plans to develop industrial zones, create jobs and attract foreign direct investment, as well as drive economic diversification.“

The MoUs represent new collaborations with companies from six countries. These include France, Norway, New Zealand, South Korea, Spain and the United States. The MoUs are intended to support Saudi Aramco’s operations and Saudi Arabia’s economic diversification strategy by increasing the efficiency of technology used in upstream, downstream and engineering services. In the long term, these agreements aim to help improve sustainability and technological efficiency throughout the value chain.

The MOUs and commercial collaborations signed include:
 * Air Products Qudra: Non-binding MoU between Saudi Aramco and APQ to discuss the establishment of an Industrial Gases Joint Venture.
* Aker ASA: MoU between Saudi Aramco and Aker ASA to collaborate on the 4th Industrial Revolution addressing sustainability and green environment.
* Dassault Systems: MoU between Saudi Aramco and Dassault Systems to work on advanced materials and 4IR technologies.
* Baker Hughes: MoU between Saudi Aramco and Baker Hughes to collaborate on artificial intelligence and digital transformation.
* BMT Co., Ltd.: Collaboration MoU between Saudi Aramco and BMT, BMT plans to to invest in fittings and valves manufacturing facilities in the Kingdom.
* Tubacex Group: Collaboration MoU between Saudi Aramco and Tubacex Group, Tubacex Group plans to invest in pipe weld overlay and cladding services manufacturing facilities in the Kingdom.
* Pultron Composites: Collaboration MoU between Saudi Aramco and Pultron, Pultron plans to invest in non-metallic Glass Fiber Reinforced Pipes (GFRP) manufacturing facilities in the Kingdom.


Sponsor : 

Other News Items

Digital Reliability: 24/7 Real-time Machinery Diagnostics

(WEBINAR) - Join Dynamics SPC where we will discuss our turnkey solution we call COMPACS. COMPACS monitors the health of your equipment in real-time. We’ve spent ...

25-02-2020

Fluor awarded contract for BPCLs Polyols petrochemicals project

Fluor Corporation announced today that it was awarded a project management consultancy services contract by Bharat Petroleum Corporation Limited (BPCL) for its Polyols ...

28-01-2020

Clariant refinery services opens state-of-the-art crude and fuel oil lab in the UK

Clariant Refinery Services, a global leader in developing additives for better fuel transportation, has opened a new state-of-the-art crude and fuel oil laboratory that ...

28-01-2020

McDermott to proceed with FEED phase of residue oil conversion project at Preem refinery

McDermott International, Inc. today announced it has been granted approval from Beowulf Energy LLC and Preem AB to commence the front-end engineering design (FEED) phase ...

27-01-2020

How Russia will ensure the growth of global methanol production by 2030

New and existing methanol projects in Russia and the CIS have become one of the topics in focus at the 6th Conference on Gas Monetisation, which will be held on April ...

23-01-2020

Another step closer to a world-leading methanol plant in Louisiana

Worley is delighted to continue its partnership with YCI Methanol One delivering plant commissioning and start-up services for their methanol plant development in Louisiana. YCI ...

23-01-2020

Ergon Refining announces March 2020 turnaround

Beginning March 5, 2020, Ergon's naphthenic refinery in Vicksburg, Mississippi, will undergo a planned turnaround. In addition to necessary maintenance and upkeep, Ergon ...

23-01-2020

European refineries are the least prepared as IMO 2020 regulations loom large

European refineries expect the largest impact from new IMO 2020 regulations, yet just 23% of these refineries are focussing on operational improvements targeting higher ...

21-01-2020

Wood cements position as strategic partner to Saudi Aramco

Wood has secured a two-year extension to its in-Kingdom and out-of Kingdom contracts with Saudi Aramco’s subsidiary, Aramco Overseas Company B.V. (AOC) for its ...

21-01-2020

Rosneft increases its share in Bayernoil refinery

Rosneft Deutschland GmbH, a subsidiary of PJSC Rosneft Oil Company, has completed the deal to acquire a 3.57% stake in Bayernoil Raffineriegesellschaft mbH from British ...

17-01-2020