Prince-Minister of Energy, National Oilwell Varco Co-Sign MoU

Pricne-minister Energy Abdulaziz bin Salman bin Abdulaziz, who is also the Chairman of the Supervisory Committee of the Oil Demand Sustainability Program, signed, a memorandum of understanding, between the program and National Oilwell Varco.

The goal is to stimulate gas and oil industry, globally, and support bilateral cooperation, by raising awareness of polymer-based products, and setting standards to promote and encourage use of these products locally, regionally, and globally.

The memorandum, was signed on behalf of the company by Clay C. Williams, Chairman, President and CEO of National Oilwell Varco, aims to enhance cooperation efforts between the program and the company to support and encourage the use of non-metallic materials, from an environmental perspective.

And support the Kingdom’s position as a global supplier of petrochemicals, in line with the pillars of the strategy for the Oil Demand Sustainability Program, related to development, innovation, and sustainability.

Prince-Minister of Energy, in a statement on the occasion, noted the interest, follow-up and support of HRH Crown Prince Muhammad bin Salman bin Abdulaziz, Deputy Prime Minister and Chairman of the Supreme Committee for Hydrocarbons, in the program.

Indicating that this ambitious program has been carved by an ambitious person, who always seeks to develop the capabilities of this country, using talented generation of our sons and daughters, as that help us a lot, in approving the program.

It is worth noting that the Oil Demand Sustainability Program, is under the supervision of the Supreme Committee for Hydrocarbon Affairs.

The program has identified and given priority to about 50 initiatives, in the sectors of transportation, benefits and materials that promote sustainability, development and innovation, as it aims to enable the use of polymer-based materials and support the localization of supply chains of hydrocarbons.

Meanwhile National Oilwell Varco will provide technology-based solutions to enable the use of polymer-based materials, across much more industries; especially as it is a world recognized leader, in terms of innovation and development, in the non-metallic materials sector.