Aramco, ADNOC to jointly assess upstream technologies

April 4, 2017
Saudi Aramco has signed a memorandum of understanding with ADNOC.

Offshore staff

ABU DHABI, UAESaudi Aramco has signed a memorandum of understanding with ADNOC.

The two companies plan to collaborate on identifying technologies that could deliver improved operational performance and efficiency across the oil and gas value chain.

Dr. Sultan Ahmed Al Jaber, the UAE Minister of State and ADNOC Group CEO, said: “We share many strategic objectives and increased cooperation between ADNOC and Saudi Aramco will further ensure our 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.”

Amin H. Nasser, president and CEO of Saudi Aramco, said the MOU would “further strengthen and advance our joint goals for research and development in sustainable energy supply, development, and management.

“Collaboration is crucial for success in achieving breakthroughs in our industry and we welcome ADNOC to be part of our network of collaborative relationships with leading energy companies and institutions.”