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    3 Permits Awarded For Full Scale CO2 Storage In Denmark

    Italy Intends To Be Energy Hub of Europe With Funds From EU

    Reduced Saudi Crude Prices Expected For 4 Months Straight

    Offshore Gas Field Nod From The US To Trinidad And Tobago

    Uganda Begins First Oil Drilling Project Under $10bn Scheme

    Dutch government invites Shell, Exxon to join $2.6B subsea carbon storage plan

    TechnipFMC awarded $250 million subsea service contract offshore Brazil

    Sinopec creates record by drilling 8,725 meters deep oil, gas field

    Uganda expects oil production by 2025 with new drilling activity

    Trillion Energy to increase gas production at SASB gas field with three new side-track wells

    Total-Eni partnership in offshore gas drilling

    PETRONAS awards three production sharing contracts offshore Malaysia

  • Projects
    UN Condemns Energy Giants For Ignoring Science of All Things

    Global oil and gas projects pipeline at US$4 trn

    BP begins gas production at West Nile Delta project

    BP begins gas production at West Nile Delta project

    Bechtel and Cheniere Deliver LNG Ahead of Schedule on US Gulf Coast

    Bechtel and Cheniere Deliver LNG Ahead of Schedule on US Gulf Coast

    ABB wins $79m order for Bab onshore project in Abu Dhabi

    Phillips 66 and Bridger Pipeline LLC Announce Open Season for Rockies and Bakken Crude Oil Pipeline System

    Phillips 66 and Bridger Pipeline LLC Announce Open Season for Rockies and Bakken Crude Oil Pipeline System

    BHP successful in bids for blocks in the offshore Orphan Basin in Eastern Canada

    Operational excellence and safety continue to be a key driver in oil and gas sector

    Gazprom plans to carry forward cost efficient in 2018

    TGS announces new seismic project in the Anadarko basin

  • Whitepapers

    OGA 2017 Post Show Report

    US Polyethylene Export Market Report 2017-2020

    US Polyethylene Export Market Report 2017-2020

    Embedded SSD Flash Management

    Enterprise SSD: More Than Just a New Kind of Hard Drive

    Efficiency, Visibility and Reliability Keys to lower costs and greater profitability in oil and gas operations

    Don’t Miss the Unconventional Resource Revolution’s Next Wave

    Better Safety, Better Business: Maintain Compliance and Drive Revenue: Put All of Your Data to Work

    Breaking the Application Barrier: Why Data is the Most Valuable Asset in the Oil and Gas Industry

    Drilling Optimization Through Advanced Analytics Using Historical and Real-Time Data

  • Press Releases

    chevron invests in carbon capture and removal technology company, svante

    bp looks to further developments at Tangguh with PSC extension

    Falcon Oil & Gas completes successful drilling operations in Australia

    N’GENIUS solution on the horizon for oil, gas and LNG industry

    QatarEnergy, GE to develop carbon capture roadmap

    QatarEnergy, GE to develop carbon capture roadmap

    Equinor Energy

    Transocean secures offshore drilling rig contract from Wintershall and OMV

    offshore contract by Al Yasat Petroleum

    INEOS and partners approved to develop Solsort field offshore Denmark

    TechnipFMC awarded significant subsea contract for Shell’s North Sea development

    Petronas hires Maersk semi-submersible for Suriname exploration

    PETRONAS Announces New Gas Discovery in Central Luconia Province, Offshore Malaysia

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    Matador Resources acquires Delaware basin assets for $1.6 billion

    Funding For Oil And Gas Industry Is Evolving Dramatically

    Marathon Oil Completes Eagle Ford Acquisition

    Neptune Energy producing natural gas from Merakes project in Indonesia

    Fresh Gas Supply Need Is Created By Australian Energy Crisis

    Chevron Announces $15 Billion Capital and Exploratory Budget for 2022

    Chevron Announces $15 Billion Capital and Exploratory Budget for 2022

    Aramco announces second quarter and half-year 2021 results

    Aramco announces second quarter and half-year 2021 results

    Empire Petroleum buys US oil and gas assets from ExxonMobil

    Empire Petroleum buys US oil and gas assets from ExxonMobil

    CNOOC Limited Announces Key Operational Statistics for Q1 2020

    Aramco announces second quarter and half-year 2020 results

    bp agrees to sell its petrochemicals business to INEOS

    bp agrees to sell its petrochemicals business to INEOS

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55 MoUs And Deals Boost Aramco Namaat Industrial Programme

venkat by venkat
July 12, 2022
in News
0
55 MoUs And Deals Boost Aramco Namaat Industrial Programme

A huge expansion of the Namaat industrial investment strategies has been announced by the Saudi Arabian Oil Company (Aramco), with 55 agreements and Memorandum of Understanding covering the sustainability, digital, manufacturing, industrial, and social innovation sectors.

Namaat, which has increased from 32 to 55 investments since last year, encourages industrial investment partnerships, which aid in Saudi job creation as well as capacity building and national progress. The program intends to open up prospects for domestic and foreign businesses and to make use of different incentives provided by the Shareek project and other government initiatives.

Namaat permits Aramco to be a catalyst for transformation across the Kingdom’s economy while retaining its reliability as a global energy provider at a time of market volatility, said Ahmad Al-Sa’adi, senior vice president, Technical Services at Aramco. Their partnership with business titans in fields of strategic importance to the Kingdom shows how Aramco is developing national champions that will benefit the value chain, economy, and people in the long run.

This most recent stage of Namaat’s growth shows even closer integration with other business life cycle activities meant to bring value and encourage sustainable growth. With 19 of the 22 MoUs inked last year already gaining traction and a total investment of $3.5 billion, it also marks a substantial advancement for the initiative.

The new agreements support the Kingdom’s developing energy and chemical value chains as well as Aramco’s long-term expansion strategy. They consist of:

  • Six joint ventures for the engineering, procurement, and construction of new projects include Larsen & Toubro, Kent & Nesma, and Gulf Consolidated Contractors, Samsung Engineering & Al-Rushaid Group, Hyundai & Al-Rashid Trading & Contracting Co. (RTCC), Sinopec Shanghai Engineering Co. Ltd. & Abdel Hadi Abdul, and Saipem & Nasser S. Al-Hajri Corporation (NSH).
  • A joint partnership between Honeywell and industrial facilities to develop and use digital technology solutions.
  • A joint venture between Armorock and AlKifah Precast to increase the usage of polymers locally in the manufacturing of concrete.
  • A vanadium concentrate sales deal between Shell and AMG Recycling and United Company for Industry (UCI) has been signed, paving the way for the development of a metal recycling and catalyst production facility.
  • For the purpose of constructing and running the Spark Digital Center, Accenture, Al Gihaz Holding, and Impulse Partners have formed a consortium.

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