Saudi Aramco, Baker Hughes announce non-metallic products JV

Saudi Aramco and Baker Hughes announced today, Dec. 8, the formation of Novel, a 50-50 joint venture (JV) to develop and commercialize a broad range of non-metallic products for multiple applications in the energy sector.

The announcement follows a memorandum of understanding (MOU) signed by the two companies in July 2019, seeking to create a non-metallic JV, Saudi Aramco said in a statement.

Novel’s new facility is being developed at King Salman Energy Park (SPARK).

Non-metallic products are being deployed in a variety of industries, from the oil andgas sector to automotive, building and construction, packaging and renewables, the statement said. In addition to being more sustainable, these advanced materials make them lighter than their conventional counterparts and resistant to corrosion.