RIYADH — The Industrialization and Energy Services Company (TAQA), a Public Investment Fund (PIF) company, and Advanced Resources International Inc (ARI) on Thursday signed a joint strategic cooperation agreement to develop carbon sequestration and storage opportunities in Saudi Arabia and the Middle East region.

CEO of TAQA Eng. Khalid Nouh said, "We look forward to working with a global company with more than 40 years of international expertise in carbon sequestration and storage and enhanced oil recovery projects."

He pointed out that this agreement was an important step to achieve the goals of Saudi Vision 2030 and is one of the most important parts of TAQA 2021 strategy.

For his part, ARI CEO Vello Kuuskraa said cooperation between the two companies will focus on studies and projects related to carbon sequestration technology and enhanced oil recovery in Saudi Arabia and the Middle East, which is one of the most important technologies to achieve a successful energy transformation. — SPA