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14.03.2021

KNPC" and "OAPEC" Sign a Memorandum of Understanding on Research and Development

KNPC inked a Memorandum of Understanding (MoU) with the Organization of Arab Petroleum Exporting Countries (OAPEC) in the fields of Research, Digital Libraries and the Development of the Oil Sector. The Memorandum was signed at the headquarters of the Organization, and it was signed by our Company CEO Mr. Waleed Al-Bader and on the side of the Organization, its Secretary-General Mr. Ali Bin Sabt.
 
On this occasion, Al-Bader emphasized the importance of Research and Development in the oil industry, which has become increasingly dependent on modern technology to optimize costs and produce clean, high-quality oil products.
 
Al-Bader added that this requires KNPC, as a leading Company in its field, to work with the aim to strengthen its relations with those bodies that have the ability to communicate with Research Centers in the region, and to have access to the sources that provide the latest Studies and Research on the Oil and Gas industry, noting that "OAPEC”  comes at the forefront of these bodies.
 
For his part, Bin Sabt pointed out that inking the MoU comes as an endeavor by both sentities to exchange Scientific experiences in the field of Energy, in light of the rapid technological developments in this industry both on the Arab and Global levels, explaining that the Memorandum also comes as part of implementing a plan to develop and activate “OAPEC” activity, which was recently adopted by the Organization's Council of Ministers.
 
Bin Sabt also commended the distinguished relations between “OAPEC” and KNPC, hoping that with the signing of this Memorandum, it would mark the beginning of a new era of fruitful collaboration between the two parties.
 
This MoU aims to enhance the joint cooperation between the two parties in the field of Research and Development, and to participate in the Research, Technology and Development Database owned by “OAPEC”, in addition to developing an Integrated Electronic Office system to create a Database on the Oil and Energy industry, including the exchange of information, publications, studies and regular reports pertinent to the Downstream industry in particular.