Aramco and Baker Hughes commence construction on non-metallics joint venture in Saudi Arabia
- Newly formed company will be called Novel Non-Metallic Solutions Manufacturing (Novel)
Aramcobrings the resources and perspective of a pre-eminent energy company to the JV and Baker Hughesas a world-class energy technology company and manufacturer, providing deep commercial and technical expertise
- Through its state-of-the-art manufacturing processes, R&D and localization focus, Novel expects to partner with customers to advance innovation in the energy sector
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The ceremony comes after both companies signed a memorandum of understanding (MOU) to create a non-metallics JV in
The JV is based on a shareholders agreement signed in February this year during Aramco’s 5th
Aramco’s Senior Vice President for Technical Services,
Non-metallic products are being deployed in a variety of industries, from the oil and gas sector to automotive, building and construction, packaging and renewables. In addition to being more sustainable, these advanced materials make them lighter than their conventional counterparts and resistant to corrosion.
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Source: Baker Hughes