Industrialization and Energy Services Company Signs Agreement with ARI

The Industrialization and Energy Services Company (TAQA), a Public Investment Fund (PIF) company, and Advanced Resources International Inc (ARI) announced on Thursday signed a joint strategic cooperation agreement to develop carbon sequestration and storage opportunities in the Kingdom of Saudi Arabia and the Middle East region.

CEO of TAQA Eng. Khalid Nouh said that we look forward to working with a global company with more than 40 years of international expertise in carbon sequestration and storage and enhanced oil recovery projects, pointing out that this agreement is an important step to achieve Saudi Vision 2030 and is one of the most important parts of TAQA 2021 strategy.

For his part, ARI CEO Vello Kuuskraa said that the cooperation between the two companies will focus on studies and projects related to carbon sequestration technology and enhanced oil recovery in Saudi Arabia and the Middle East, which is one of the most important technologies to achieve a successful energy transformation.