HRH Prince Abdulaziz bin Salman, Minister of Energy, Chairman of the Supervisory Committee of the Oil Sustainability Program (OSP), and Clay C. Williams, Chairman, President and Chief Executive Officer of National Oilwell Varco (NOV) Inc. signed an MoU between OSP and NOV to drive cooperation and enhance the evolving oil and gas industry globally.
Through this collaboration and in line with the OSP’s strategic pillars of development, innovation, and sustainability, the OSP and NOV will work together to bring market awareness to polymer-based products, and develop standards to promote the use of such products at the local, regional, and international levels.
This MoU brings OSP and NOV together to advance the use of cost-effective nonmetallic material and reinforce the Kingdom’s position as a world-leading supplier of petrochemicals.
Saudi Arabia, as a global energy leader, has always sought to implement the highest environmental and economical standards across every segment of the value chain, from well to product. As a result, the Kingdom is a leader of the transition to more sustainable energy systems
It upholds the critical responsibility of energy security to power the global economy, and provide the energy necessary to achieve global the developmental goals, while continuing to support the advancement of alternative energy sources.
In a statement on the occasion, HRH Prince Abdulaziz bin Salman noted that OSP enjoys the keen interest of HRH Crown Prince Mohammed bin Salman, Deputy Prime Minister, Minister of Defense, Chairman of the Supreme Committee of Hydrocarbons. “The program is ambitious and enjoys the interest of an ambitious man who always strives to build this country’s capacities. He’s enabling an ambitious generation of our youth who helped us a lot in having the program approved,” HRH said.
The OSP is a program under the umbrella of the Supreme Committee for Hydrocarbon Materials of the Government of the Kingdom of Saudi Arabia. It has identified and prioritized ~50 opportunities in the transportation, utilities, and materials sectors promoting sustainability, development, and innovation. OSP aims to enable the use of polymer-based materials, and support the localization of the relevant value chains in the Kingdom.
NOV delivers technology-driven solutions to empower the global energy industry. For more than 150 years, NOV has pioneered innovations that enable its customers to safely produce abundant energy while minimizing environmental impact.
