Aramco’s Cross Oceans United enters strategic partnership on clean energy with Dutch firm

Officials during signing the agreement

Businessman Musaad bin Sammar signed a strategic partnership in the renewable energy sector with a Netherlands-based company through Cross Oceans United Co., which falls under the umbrella of Saudi Aramco's In-Kingdom Total Value Add (IKTVA) program.

According to a company statement, the partnership targets enabling the sustainability of renewable energy pipelines for oil and gas projects, which contribute significantly to Saudi Arabia's direction in the renewable energy sector.

Musaad bin Sammar said that the Saudi Vision 2020, under the leadership of the Custodian of the Two Holy Mosques King Salman bin Abdulaziz and Crown Prince Mohammed bin Salman, boosts the economic growth rates in the field of clean energy.

He added that this strategic partnership will transfer advanced technologies and build a hydrogen pipeline plant that works to transport hydrogen, as well as contribute to carbon dioxide trap projects, which may reach a total of $300 million in investment in this sector.