Arab Finance: The Ministry of Petroleum and Mineral Resources has inked a memorandum of understanding (MoU) with China's Anton Oilfield Services Group to cooperate on utilizing flare gases and expanding renewable energy generation in the petroleum sector, as per a statement.
The agreement aligns with the ministry’s strategy to cut emissions and support low-carbon energy sources.
It includes capacity building, technical and economic feasibility studies for flare gas utilization projects, and efforts to optimize economic benefits through various applications.
Additionally, the partnership aims to expand renewable energy generation at petroleum facilities, enhancing operational efficiency and sustainability.
The collaboration will also focus on identifying suitable sites for pilot projects, reinforcing efforts to secure sustainable energy resources in the petroleum sector.