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Aramco and Baker Hughes (NYSE:BKR) have announced the formation of Novel, a 50/50 Joint Venture (JV) to develop and commercialize a broad range of non-metallic products for multiple applications in the energy sector.
Agreement aligned with company’s strategy to play a leading role in accelerating the deployment of the nonmetallic materials business globally, producing non-metallic materials in the Kingdom would unlock opportunities for local manufacturers and facilitate knowledge transfer.
The suite of innovative technologies that Saudi Aramco will be showcasing at the event have been developed by Saudi Aramco’s global research teams in collaboration with leading car manufacturers and technology developers.
Saudi Aramco Technologies Company (a Saudi Aramco company), Mazda and the National Institute of Advanced Industrial Science and Technology (AIST) announced a cooperative research program to develop advanced engine/fuel combinations.