Menu Home Creating value Technology development Strategic investments Strategic investments Technology development In a challenging environment, no one player is able to succeed on its own. Collaboration enhances our competitiveness and further enables the expansion and strategic integration of our global business. And as our business has grown into new markets and products, so too has our collaborative network expanded, encompassing other energy producers, engineering companies, service providers, equipment manufacturers, R&D institutions, and universities. In the Kingdom, we engage and participate with key national stakeholders, including the King Abdulaziz City for Science and Technology (KACST), King Fahd University of Petroleum and Minerals (KFUPM), and King Abdullah University of Science and Technology (KAUST) in the pursuit of high impact research and technology initiatives of strategic importance to our business. Our participation centers on initiatives aimed at advancing nascent technologies, accelerating the Kingdom’s ability to conduct advanced scientific research, and promoting entrepreneurship and the development of new technology enabled businesses. In a separate project with KFUPM, we are working to establish a world‐class Petroleum Engineering and Geosciences College. In our local region, we have signed a Memoranda of Understanding with Abu Dhabi National Oil Company (ADNOC) and with Masdar, a renewable energy and sustainable urban development company based in Abu Dhabi, UAE. With ADNOC, we plan to collaborate on identifying technologies that could deliver improved performance and efficiency across the oil and gas value chain. The agreement with Masdar enables collaboration on sustainable and renewable energy development to yield advancements in clean electricity generation and carbon capture. Internationally, we collaborate with a network of academic and industry research partners, including the Massachusetts Institute of Technology, Stanford University, Imperial College, Tsinghua University, KAIST (the Korean Advanced Institute of Science and Technology), and IFPen on topics related to the global challenge of a sustainable energy future. Saudi Aramco Energy Ventures Saudi Aramco Energy Ventures (SAEV) — whose mission is to source and develop relationships with strategically significant and innovative energy technology companies — invests globally in start-up and high-growth companies with technologies of strategic importance to us. SAEV is headquartered in Dhahran and with a presence in North America, Europe, and Asia. In 2017, SAEV made six new investments and piloted five technologies from its portfolio companies. In 2013 SAEV made a venture investment in Novomer, to help accelerate the development and commercialization of the Converge® technology. Converge® In 2016 we acquired Novomer’s Converge® polypropylene carbonate polyols product line. The acquisition of the technology, driven by our integrated downstream expansion strategy, is enabling the conversion of waste CO2 into cleaner, high-value materials with significant performance, cost and carbon footprint improvements. FIND OUT MORE Related News COLLEGE STATION, Texas, U.S., August 29, 2019 Aramco sponsored ‘G-Camp’ offers invaluable geology experience for U.S. educators Enabling STEM education programs around the world to empower young researchers and scientists. DHAHRAN, July 02, 2019 Saudi Aramco accelerates technology drive with Baker Hughes General Electric research partnership Saudi Aramco signaled its commitment to cutting edge technology and developing global partnerships with the opening yesterday of a “game-changing” Baker Hughes GE (BHGE) research facility at Dhahran Techno Valley. SEE ALL RELATED NEWS Technology development Global research centers Addressing global energy challenges is important to all of us. Achieving the necessary technology breakthroughs requires access to the best ideas, people, and partners around the world. FIND OUT MORE Site information COOKIE NOTICES PRIVACY STATEMENT TERMS AND CONDITIONS SCAM AND FRAUD ALERT SITEMAP News & Media SEARCH ALL NEWS LATEST NEWS PUBLICATIONS SPEECHES MEDIA GALLERY CONTACTS AND RESOURCES Other websites ARAMCO ENTREPRENEURSHIP CENTER ARAMCO TRADING COMPANY KING ABDULAZIZ CENTER FOR WORLD CULTURE (ITHRA) IKTVA SAUDI ARAMCO ENERGY VENTURES Social media twitter linkedin youtube instagram facebook © 2021 Saudi Arabian Oil Co.