Saudi Energy Minister Signs MOU with National Oilwell Varco to Stimulate Gas and Oil Industry

Prince Abdulaziz bin Salman bin Abdulaziz, the Minister of Energy, who is also Chairman of the Supervisory Committee of the Oil Demand Sustainability Program, signed today a memorandum of understanding (MOU) between the program and National Oilwell Varco, to stimulate the gas and oil industry globally and support joint cooperation, by raising awareness of polymer-based products, and setting standards to promote and encourage the use of these products locally, regionally and internationally.

The MOU, which was co-signed by Clay C. Williams, Chairman, President and CEO of National Oilwell Varco on behalf of the company, aims to enhance cooperative efforts between the program and the company to support and encourage the use of non-metallic materials from an environmental and economic aspect, and support the Kingdom of Saudi Arabia’s status as a global supplier of petrochemicals, as per the Program’s strategy which relates to development, innovation and sustainability.

The Minister praised the follow-up and support of His Royal Highness Prince Mohammed bin Salman bin Abdulaziz, Crown Prince, Deputy Prime Minister, Minister of Defense, and Chairman of the Supreme Committee for Hydrocarbons, adding that this ambitious program came from the direct keenness of an ambitious person who always seeks to develop the potentials of this country, and aspires to utilize the skills of the Kingdom’s ambitious generation, as this helped to a great deal in approving the program.