Abu Dhabi: Saudi Arabian Oil Company (Saudi Aramco) on Sunday signed two separate MoUs with Abu Dhabi National Oil Company (Adnoc) and with Masdar, Abu Dhabi’s renewable energy company, covering energy and technology collaboration, renewables, and carbon management.
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. The MoU was signed by Dr Sultan Bin Ahmad Sultan Al Jaber, Minister of State and CEO of the Adnoc Group, and Amin H. Nasser, President and CEO of Saudi Aramco.
Al Jaber said: “The UAE and Saudi Arabia have strong bilateral ties built on fraternity, collaboration and partnership. We share many strategic objectives, and increased cooperation between Adnoc and Saudi Aramco will further ensure our long-term economic and energy resilience.”
Clean electricity generation
Saudi Aramco also signed an MoU with Masdar, where the parties 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.
The MoU was signed by Yasser Mufti, Executive Director of New Business Development at Saudi Aramco and Mohamed Jameel Al Ramahi, CEO of Masdar.
Commenting on both the deals, Aramco’s Nasser said that while the collaborative agreement with Adnoc will “strengthen the existing links” between the two companies, the agreement with Masdar “reflects the shared commitment of Masdar and Saudi Aramco to industry collaboration.”