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Apicorp And Nogaholding Sign Mou To Promote Collaboration on ESG, sustainability and green financial solutions | |
| Staff Writer |
The Oil and Gas Holding Company B.S.C (c) (nogaholding) and the Arab Petroleum Investments Corporation (APICORP) has signed a memorandum of understanding (MoU) to promote collaboration between the two entities on various important issues including sustainability and green financing, strategic initiatives and projects that will be crucial to the future of the Kingdom of Bahrain’s energy sector.
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The MoU was signed by APICORP Chief Executive Officer, Mr. Khalid Ali Al-Ruwaigh and nogaholding Group Chief Executive Officer, Mr. Mark Thomas.
Commenting on the MoU, His Excellency Dr. Bin Daina said, “We are delighted to witness this partnership between two entities focusing on the development of the Arab energy sector and exchanging knowledge for the benefit of communities. The Kingdom has taken massive strides in the development of the oil and gas sector while responsibly working on meeting the decarbonization mandates as pledged by His Royal Highness Prince Salman bin Hamad Al Khalifa, the Crown Prince and Prime Minister of the Kingdom of Bahrain at COP26, as well as the United Nations Sustainable Development Goals. With APICORP’s experience, we can expect this partnership to accelerate the energy transition and adoption of ESG principles in Bahrain.”
Dr. Aabed Al-Saadoun, Chairman of the APICORP Board, said: “Our mission is to contribute to the development and transformation of the Arab hydrocarbon and energy industries through equity, debt financing and advisory services and provide the Arab energy sector with financial solutions for the energy of tomorrow. The MoU with nogaholding is a testament to our focus on our goals in supporting the Arab energy sector in a balanced energy transition that enables socioeconomic growth and workforce empowerment.”
Mark Thomas, Group Chief Executive Officer, nogaholding, added: “We are proud to be signing this MoU with an esteemed company like APICORP. The knowledge-sharing aspect of this partnership will provide nogaholding with opportunities that will help bolster the future of Bahrain’s energy sector, enabling us to take on additional projects, in line with the Kingdom of Bahrain’s Vision 2030.”