Page 12 - MEOG Week 04 2022

MEOG NEWS IN BRIEF MEOG

POLICY COMPANIES gas utilization solutions and focuses on
standardization, modular solutions, and the
Iran, Russia sign energy mCloud, Aramco to explore creation of In-Country Value. The project will
capture associated gas that otherwise would
agreements a joint hub for ESG solutions have been emitted and achieves this in an
efficient manner, utilizing the available energy
Iranian Minister of Petroleum, Javad Owji, mCloud Technologies Corp., a leading in high pressure gas.
said on Thursday Tehran and Moscow signed provider of AI-powered asset management F2V would like to thank Oxy, the Ministry
multiple agreements in development of oil and Environmental, Social, and Governance of Energy and Minerals (MEM) in the
and gas fields, construction of petro-refineries solutions, signed a Memorandum of Sultanate of Oman, our investors and our
and technology transfer. Understanding with Aramco, according to partners for their trust and unwavering
It was one of the most productive trips and a statement from mCloud. Under the MoU, support through a challenging journey. F2V’s
we achieved much more than we expected, mCloud will explore with Aramco the co- mission is to complete the project and deliver
Owji said, adding we had good meetings with development of a digital technology hub for rapid growth in Oman and elsewhere.
Russian Deputy Prime Minister, Alexander delivering ESG solutions in Saudi Arabia. The Ministry of Energy and Minerals
Novak, Minister of Energy, Nikolai Shulginov, This hub would enable both parties to (MEM) said: “We are very pleased that
and Russian oil and gas companies. jointly develop new AI-powered innovations Oman can provide a platform for innovation
We reached good agreements in to facilitate the carbon reduction of complex in the area of collecting and utilizing flared
development of oil and gas fields, construction energy-intensive assets throughout the gas. What is even more pleasing is the
of petro-refineries as well as transfer of Kingdom and abroad, the statement added. alignment of this project and F2V business
technology and technological equipment The company plans to develop a center with our national aspirations, to reduce
which are much needed in oil industry, he of excellence that will serve as a home base flaring of low pressure gases, reduce emission
stated, adding Iranian people will see the for a dedicated team of ESG and digital of greenhouse gases, build value in country,
effect of these agreements in energy sector. transformation experts based in Saudi Arabia, facilitate technology and know-how transfer
These agreements will soon be taken into it added. and build a platform for further FDI into
effect as both countries are determined to ARAB NEWS Oman. We are looking forward to rapid scale
cooperate. The comprehensive roadmap of up: delivery of the follow up projects, first in
joint cooperation was prepared for all oil and Oman, and the expansion of flare out delivery
energy subsidiaries, he noted. GAS capabilities,” said H.E. Salim bin Nasser Al
We submitted our proposals to the Aufi, Undersecretary, Ministry of Energy and
Russian side last month and Russia’s capable F2V, Oxy sign deal for Minerals.
companies announced their interests to “As Oxy was the first US Oil and Gas
cooperate in these areas, he added. Mukhaizna flare recovery company to endorse the World Bank’s “Zero
On US harsh sanctions against Iran Routine Flaring by 2030” initiative, we are
and Russia, Owji said both countries are Flare2Value (F2V), an energy solutions proud to sign this agreement with F2V, in
of abundant oil and gas reserves and great company in flare abatement; and Occidental continuation of the company’s efforts to
potentials which can be used, he stressed, Oman (Oxy Oman), the Sultanate’s largest reduce routine flaring and maximize the use
people and energy sector will definitely see the independent oil producer, are pleased to of natural gas as a valuable energy resource.
effects of the agreements. announce the signing of an agreement, where Taking advantage of innovative solutions
Russians are well aware that the Iranian F2V will construct and operate flare gas will allow Oxy to achieve net-zero in our
government and Oil Ministry are determined recovery facilities. The project will reduce operational and energy-use emission before
to strengthen and continue such ties, he said. emissions and create economic value from 2040 and our total emissions inventory before
“Iran and Russia also share similar views in captured associated gas. 2050,” said Stephen Kelly, President and
OPEC Plus.” With the project, F2V demonstrates a General Manager at Oxy Oman.
SHANA novel business model that delivers flare TIMES OF OMAN

P12 www. NEWSBASE .com Week 04 26•January•2022