RIYADH: To advance petrochemical conversion technologies in the Kingdom, the Ministry of Energy, Saudi Arabian Oil Co., and the King Abdullah University of Science and Technology have signed a memorandum of understanding.
Under the agreement, the three entities will collaborate to develop and test technologies to help convert crude to petrochemicals, the ministry said in a tweet.
The deal will also see Saudi Aramco and KAUST develop opportunities for cooperation and strategic partnerships in applying petroleum conversion technologies.
Earlier this month, Saudi Aramco agreed with ENOWA, NEOM’s energy and water company, to establish a synthetic electro-fuel demonstration plant in the Kingdom.
As part of the deal, NEOM will oversee the plant’s construction, while Aramco and ENOWA will jointly manage operations and invest in relevant research programs.
According to a press statement, the primary aim of this initiative is to showcase the technical feasibility and commercial viability by producing 35 barrels daily of low-carbon synthetic gasoline using renewable-based hydrogen and capturing carbon dioxide.
