Sharm el-Sheikh, Egypt—Saudi Arabia has signed two separate agreements with Oman and Egypt to boost ties in the energy field. The deals were reached on the sidelines of the COP27 summit in Egypt.
A memorandum of understanding was signed by Saudi Energy Minister Prince Abdulaziz bin Salman and his Omani counterpart Salim Nasser Al Awfi.
The deal focuses on cooperation in the fields of oil, gas, electricity, and renewables. It will also facilitate cooperation on carbon capture, reused and storage.
The MoU also includes cooperation on hydrogen as well as enhancing digital transformation in the energy field.
The Saudi energy minister and the Egyptian Minister of Electricity and Renewable Energy, Dr. Muhammad Shaker, signed an MoU for bilateral cooperation, which aims to enhance cooperation in the production and export of electricity from renewable energy, transport of clean hydrogen transport, and electrical interconnection.
The agreement also encourages digital transformation, innovation, cyber-security, and artificial intelligence, as well as the efforts to develop qualitative partnerships in localization, services and supply chains.
Moreover, the MoU supports joint research with universities, research centers and others, in addition to the holding of conferences, seminars and work sessions, as well as building human capacities through training and exchanging information and experiences, with the aim to deepen and expand cooperation between the two countries.
The memorandum includes exchanging training courses and experts’ visits, and conducting scientific research on energy, which would contribute to strengthening cooperation between the two countries.