- Aramco has signed a Memorandum of Understanding with King Abdullah University of Science and Technology to support research aimed at providing environmental and commercial benefits. - The initiative will involve Aramco funding up to $100 million for research and development projects over the next 10 years. - The collaboration aims to develop commercially-viable solutions to support energy transition and sustainability goals. - The partnership will accelerate innovation in Saudi Arabia and address pressing global and local challenges. - Aramco's President stated that the collaboration will deepen the company's relationship with KAUST and focus on R&D and technology development. - KAUST's President emphasized the aim to leverage expertise to develop innovative solutions for a sustainable future. - Key areas of collaboration include energy transition, sustainability, materials transition, upstream technologies, and digital solutions. - Research topics will cover liquids-to-chemicals conversion, future refineries, low-carbon aviation fuels, hydrogen, carbon capture, storage, renewables, and energy storage solutions. - Additional projects will explore advanced carbon materials and geothermal energy among other topics.

Aramco plans $100m funding for KAUST to support cutting-edge R&D

August 12, 2024

• Collaboration to focus on developing commercially-viable solutions to support energy transition and sustainability goals
• Projects aim to accelerate innovation in Saudi Arabia and address some of the most pressing global and local challenges

Aramco, one of the world’s leading integrated energy and chemical companies, has signed a Memorandum of Understanding (MoU) with King Abdullah University of Science and Technology (KAUST) to support research that aims to deliver environmental and commercial benefits.

Aramco plans to fund up to $100 million in research and development projects with KAUST over the next 10 years. The funds from Aramco have been earmarked for a wide range of initiatives, from essential research to applied technologies, as KAUST seeks to push the boundaries of science and innovation.

Amin H. Nasser, Aramco President & CEO, said: “This collaboration will further deepen Aramco’s relationship with KAUST and we look forward to exploring new possibilities and frontiers with a strong focus on R&D and technology development, reflecting our firm belief in the importance of innovation across industries and applications.”

Tony Chan, KAUST President, said: “The partnership exemplifies KAUST's dedication to fostering impactful research that drives technological advancements and addresses real-world challenges. Our collaboration with Aramco will leverage our combined expertise to develop innovative solutions for a sustainable future."

Areas of collaboration include the energy transition, sustainability, materials transition, upstream technologies and digital solutions, with an emphasis on developing commercially-viable outcomes.

Topics identified within the energy transition field include liquids-to-chemicals conversion and future refineries research, as well as low-carbon aviation fuels. Sustainability research will include hydrogen, carbon capture and storage, renewables, and energy storage solutions. Additional projects are expected to focus on advanced carbon materials and geothermal energy, among other things.