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Aramco Inks MoUs with ADNOC, Masdar | ASHARQ AL-AWSAT English Archive 2005 -2017
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Visitors and guests are seen at ADNOC stand during the 20th Middle East Oil & Gas Show and Conference (MOES 2017) in Manama, Bahrain, March 7, 2017. REUTERS/Hamad I Mohammed

Dammam – Saudi Aramco signed on Sunday two memorandums of understanding with Abu Dhabi National Oil Company (ADNOC) and Abu Dhabi’s renewable energy company (Masdar) — the two MoUs cover energy and technology collaboration, renewables, and carbon management.

The MoU was signed by Dr. Sultan Ahmed Al Jaber, UAE Minister of State and ADNOC Group CEO, and Amin Hassan Nasser, president and CEO of Saudi Aramco.

Jaber said: “UAE and Saudi Arabia have strong bilateral ties built on fraternity, collaboration and partnership. We share many strategic objectives.” He added that an increased cooperation between ADNOC and Saudi Aramco will further ensure long-term economic and energy resilience.

“This agreement reinforces our renewed approach to partnerships, which are aimed at leveraging and building on existing industry expertise. 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,” Jaber added.

Aramco president and CEO said: “Saudi Aramco and ADNOC have a long history of enabling growth, development and innovation. Aramco’s MoU with ADNOC will further strengthen and advance our joint goals for research and development in sustainable energy supply, development and management.”

He added, “Collaboration is crucial to achieve breakthroughs in the industry. We welcome ADNOC and MASDAR to be part of our network of collaborative relationships with leading energy companies and institutions.”

Aramco also signed a MoU with Masdar. The MoU was signed by Yasser Mufti, executive director for New Business Development at Saudi Aramco, and Mohamed Jameel al-Ramahi, CEO of Masdar.

“This important agreement reflects the shared commitment of Masdar and Aramco to industry collaboration, which is essential to ensure that sustainable energy-based projects benefit from the best available technology, knowledge and skills,” commented Ramahi.