National Oil Technology Company, subsidiary of National Energy Services Reunited Corp (NESR), provider of integrated energy services in the Middle East and North Africa (MENA), has signed an agreement with Dhahran Techno Valley Company (DTVC), a wholly owned subsidiary of King Fahd University of Petroleum (KFUPM)
The agreement calls for the creation of a global centre for the development of scientific research in DTVC.
Dr Sahel N. Abduljauwad, acting rector of KFUPM, stated, “Dhahran Techno Valley brings together the largest number of national and international energy companies in one place and is now the largest of its kind in the world. Techno Valley provides the necessary infrastructure, services and the appropriate climate to incubate the development of new technologies as part of the implementation of the Saudi Vision 2030.”
“The Saudi Vision 2030 emphasizes the importance of strengthening the technology sector in general, and energy technologies in particular, in order to support the knowledge-based economy,” Abduljauwad added.
Sherif Foda, CEO and chairman of NESR, commented, “With this investment, we are taking an important step to develop fit-for-purpose techniques and technologies for Saudi Arabia as well as the whole region. This is a key milestone for NESR and we plan to also bring our technical partners from North America to this centre, which will allow them to customise and develop technologies in Saudi Arabia for the local industry.”
“This will also be a great opportunity to provide high-end technical opportunities for Saudi engineers and researchers and an important vehicle for partnership between the Saudi academic and industrial sectors,” Foda added.