Page 13 - DMEA Week 49 2021

DMEA NEWS IN BRIEF DMEA

Gaussin to explore H2 region.
COMPANIES distribution business to serve the Middle East
Revenues of Libya’s NOC hit vehicles in Saudi Aramco’s Advanced Innovation Center
The two companies also agreed that
$1.9bn in October Saudi Aramco announced the signing (LAB7) will be closely involved in Gaussin’s
development of hydrogen-powered vehicles
of five agreements with leading French
Revenues of Libya’s oil champion the National companies, including an agreement to explore and the development of a remote controlled/
Oil Company (NOC) from crude oil and a hydrogen-powered vehicle business with autonomous hydrogen racing truck. LAB7
gas as well as petrochemicals hit $1.9bn Gaussin, a pioneer in clean and intelligent aims to integrate Aramco’s composite
in October 2021 on growing output and transport solutions. materials into Gaussin’s existing range
favourable oil prices. Signing of the agreements took place of products to reduce the weight, energy
The vast majority of hydrocarbon revenues during an event in Jeddah, organized by the consumption and cost of these vehicles.
amounting to $1.85bn derived from crude Ministry of Investment to explore investment Aramco will also be sponsoring the world’s
oil sales. A further $34mn was generated opportunities for French companies in Saudi first hydrogen-fueled racing truck, which has
from sales of natural gas and condensates, Arabia. The event was attended by H.E. Khalid been developed by Gaussin and which will
while NOC’s revenues from oil bi-product Al Falih, Minister of Investment of Saudi compete in the 2022 Dakar Rally in Saudi
sales in October stood at $34mn, and from Arabia and H.E. Franck Riester, Minister Arabia. Aramco’s sponsorship of Gaussin’s
petrochemicals at $2.23mn. Delegate for Foreign Trade and Economic participation in the Dakar Rally continues
NOC remained committed to supplying Attractiveness of France, along with Aramco to promote low-emission transportation
oil to Libya’s electricity generation sector President and CEO, Amin H. Nasser. technology developments.
in September, delivering crude oil worth Amin H. Nasser, Aramco President and Other agreements announced today seek
$19.3mn to Ubari power station as well as oil CEO, said: “This partnership is a continuation to further Aramco’s research and development
worth $3.65mn to fulfil the fuel requirements of Aramco’s long-standing relationship with in the areas of carbon capture technology,
of the Mellitah electricity company. a number of leading French companies. artificial intelligence and local manufacturing.
Libya, an OPEC member, has managed It represents an opportunity to promote The MoU’s include:
to keep its production above 1mn barrels hydrogen as a low-carbon solution, not just Air Liquide - Non-binding MoU to
per day (bpd) since November 2020 and for motorsport, but eventually for mass evaluate low Carbon hydrogen and ammonia
production hit 1.3mn bpd in April. Hopes of transportation as well. Such collaboration production, logistics, and backcracking
a recovery and production were boosted with helps us to advance economic growth in the technology and an additional non-binding
the formation of a national unity government Kingdom as part of the Namaat industrial MoU to evaluate Carbon Capture &
in mid-March ending a split between duelling investment program and takes us a step closer Sequestration (CCS) opportunities.
eastern and western administrations. NOC to our shared vision of a more sustainable Alteia - Non-binding MoU to develop
aims to raise daily production to 1.45mn bpd future.” advanced artificial intelligence driven
by the end of 2021 and to 1.6mn bpd within The agreement between Aramco geospatial imagery interpretation and
two years and 2.1mn bpd within four years. and Gaussin aims to establish a modern processing capabilities in the Kingdom of
The NOC plans to start new oilfields in the manufacturing facility for on-road and Saudi Arabia.
coming months in the basins of Sirte, in the off-road hydrogen powered vehicles in the Axens - non-binding MoU to explore the
central part of the country, and Ghadmis, in Kingdom of Saudi Arabia. As a first step, local manufacturing and maintenance services
the west. Gaussin and Aramco will study the feasibility of furnaces and fired heaters.
BNE of a manufacturing facility and a hydrogen ARAMCO

Week 49 09•December•2021 www. NEWSBASE .com P13