Saudi Aramco forms joint venture with Baker Hughes to develop non-metallic products

Oil giant Saudi Aramco and energy services company Baker Hughes have formed a 50/50 joint venture, Novel, to develop a broad range of non-metallic products for multiple applications in the energy sector.

For all the latest headlines follow our Google News channel online or via the app.

Novel’s new plant is being constructed at Saudi Arabia’s King Salman Energy Park (SPARK), a 50 sq kilometer energy city aimed at making the kingdom a global energy, industrial and technology hub.

The new facility will not only create jobs, it will also help to foster growth of an emerging sector in line with Saudi Arabia’s Vision 2030 to diversify the economy away from oil, the companies said in a statement without disclosing the size of their investment.

Read more:

Saudi Aramco restores full flow of operations in Jazan station

Aramco announces expansion of its Saudi Arabia supply chain in boost to local jobs

World energy supply has been ‘force for good,’ must also be sustainable: Aramco CTO