Construction has commenced at the R&D facility where Novel Non-metallic Solutions aims to revolutionize the way energy is explored and distributed, and to lead the renaissance of demand for petroleum as a raw material.
At the plant, Novel will develop and commercialize a broad range of non-metallic products for multiple applications in the energy sector. These include Novel’s onshore industry leading reinforced thermoplastic pipelines.
The facility is located at King Salman Energy Park (SPARK), a 50-square-kilometer energy city that will position Saudi Arabia as a global energy, industrial and technology hub.
A ground-breaking event was held in December 2020 which was attended by Ahmad Al Sa’adi, Senior Vice President for Technical Services at Aramco and Lorenzo Simonelli, Chairman and CEO of Baker Hughes. Novel Non-metallic Solutions is a 50/50 joint venture (JV) between Aramco and Baker Hughes. The partners concluded a memorandum of understanding (MOU) to create a non-metallics JV in July 2019, and concluded a shareholders’ agreement in February 2020 during Aramco’s 5th In-Kingdom Total Value Add (IKTVA) Forum & Exhibition.
The JV aligns with Aramco’s strategy to seek new opportunities in oil-based products that will offer performance benefits while reducing carbon emissions. It also supports efforts to promote domestic investment and create jobs while helping to foster the growth of an emerging and innovative sector in alignment with Saudi Arabia’s Vision 2030.
Neil Saunders, Executive Vice President, Oilfield Equipment at Baker Hughes, said: “As an energy technology company, we are investing for growth in strategic areas like non-metallics, and our deep background in non-metallic product development will benefit a wide range of industries. Aramco’s vision to expand its product development in the region aligns with our vision to support innovation and manufacturing in Saudi Arabia.”
Non-metallic products are being deployed in a variety of industries, from the oil and gas sector to automotive, building and construction, packaging, and renewables. Novel’s advanced composite non-metal technology will meet this demand with innovative industrial components of superior performance and lighter in weight than their conventional counterparts. Some of their benefits include corrosion resistance and reduced maintenance, fewer potential points of failure and lower costs to customers, consumers, and the planet.
About Aramco: Aramco is a global integrated energy and chemicals company. We are driven by the core belief that energy is opportunity. From producing approximately one in every eight barrels of the world’s oil supply to developing new energy technologies, our global team is dedicated to creating impact in all that we do. We focus on making our resources more dependable, more sustainable and more useful. This helps promote stability and long-term growth around the world. www.aramco.com
About Baker Hughes: Baker Hughes (NYSE: BKR) is an energy technology company that provides solutions to energy and industrial customers worldwide. Built on a century of experience and with operations in over 120 countries, our innovative technologies and services are taking energy forward – making it safer, cleaner and more efficient for people and the planet. Visit us at bakerhughes.com.
About Novel Non-Metallic Solutions: Novel is a joint venture between global market leaders (Armco and Baker) , it combines the vast insight and infrastructure of Saudi Aramco with the leading edge advancements made by Baker Hughes in the development of non-metallic composite products. Novel is simultaneously executing projects with multisectoral application and actively seeking viable capital investment opportunities to advance the energy transition. www.novelnonmetallics.com