RIYADH - His Royal Highness Prince Abdulaziz bin Salman signed; The Minister of Energy and Chairman of the Supervisory Committee of the Oil Demand Sustainability Program, today, Rabi’ Al-Akhir 16, 1443 AH, corresponding to November 21, 2021 AD, a memorandum of understanding between the program and National Oilwell Pharco, to stimulate the oil and gas industry globally and support cooperation in it, by raising awareness of polymer-based products, and setting standards to promote and encourage the use of these products locally, regionally, and globally.

The memorandum, signed on behalf of the company by Clay C. Williams, Chairman, President and CEO of National Oilwell Pharco, aims to enhance cooperation efforts between the program and the company to support and encourage the use of non-metallic materials from an environmental and economic point of view, and support the Kingdom’s position as a global supplier of petrochemicals, in line with the pillars The strategy for the Oil Demand Sustainability Program related to development, innovation, and sustainability.

His Highness the Minister of Energy, in a statement on this occasion, noted the interest, follow-up and support of His Royal Highness Prince Muhammad bin Salman bin Abdulaziz, Crown Prince, Deputy Prime Minister, Minister of Defense and Chairman of the Supreme Committee for Hydrocarbons, in the program, indicating that this ambitious program was cared for by an ambitious person who always seeks to Developing the capabilities of this country, and using an ambitious generation of our sons and daughters, as it helped us a lot in approving the program.

It is worth noting that the Oil Demand Sustainability Program is a program under the supervision of the Supreme Committee for Hydrocarbon Affairs. The program has identified and given priority to about 50 initiatives in the sectors of transportation, benefits and materials that promote sustainability, development and innovation, as it aims to enable the use of polymer-based materials and support the localization of chains supply of hydrocarbons, while National Oilwell Pharco provides technology-based solutions to enable the use of polymer-based materials across industries; Especially as it is a leader in innovations and development in the non-metallic materials sector.