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Oman, Saudi ink MoU on energy cooperation

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SHARM EL SHEIKH: The Sultanate of Oman, represented by the Ministry of Energy and Minerals, signed with the Kingdom Saudi Arabia, represented by the Ministry of Energy, a memorandum of understanding (MoU) in the field of energy.

The signing took place on the sidelines of Oman’s participation in the Conference of Parties to the United Nations Framework Convention on Climate Change for 2022 (COP27)—hosted by Egypt and lasting from 6 to 18 November.

Eng Salem bin Nasser al Aufi, Minister of Energy and Minerals, signed on behalf of Oman, while the Saudi side was represented by Prince Abdulaziz bin Salman al Saud, Minister of Energy.

The MoU aims to establish a framework for cooperation between the two parties in the field of energy. It encourages cooperation in various areas of energy such as oil, gas, renewable energy, electricity, energy efficiency and petrochemicals.

It also encourages cooperation in the fields of the circular carbon economy and its technologies to reduce the effects of climate change. This includes carbon capture, reuse, transport and storage.

Moreover, the MoU encourages cooperation in the field of hydrogen and promoting digital transformation and innovation in the field of energy, developing standards to promote the use of sustainable non-metallic materials instead of traditional materials and strengthening cooperation with companies specialized in the field of energy, as well as developing qualitative partnerships between the two sides with regard to the localization of materials, products and services related to all sectors of energy, supply chains and technologies.

The MoU allows the two parties to add other areas of cooperation through diplomatic channels. — ONA

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