Nogaholding, Apicorp sign MoU to promote collaboration

Nogaholding, Apicorp sign MoU to promote collaboration

Bahrain’s Oil and Gas Holding Company (nogaholding) and the Arab Petroleum Investments Corporation (Apicorp) have teamed up to share knowledge and best practices on ESG, sustainability initiatives and green financing.

For this they signed a memorandum of understanding (MoU) under which nogaholding will leverage Apicorp’s experience as a partner to the Arab energy sector to support the company’s strategic initiatives and projects that will be crucial to the future of Bahrain’s energy sector.

The MoU was signed by nogaholding Group Chief Executive Officer, Mark Thomas and Apicorp Chief Executive Officer, Khalid Ali Al-Ruwaigh. The signing ceremony was attended by Dr Mohammed bin Mubarak Bin Daina, Minister of Oil and Environment, Special Envoy for Climate Affairs, and nogaholding Board Member and the Deputy Minister of Energy, Chairman of the Board - Apicorp, Dr Aabed Al-Saadoun, alongside a number of other officials from both parties.

Massive strides

Commenting on the MoU, Dr Bin Daina said: “The kingdom has taken massive strides in the development of the oil and gas sector while responsibly working on meeting the decarbonisation mandates as pledged by His Royal Highness Prince Salman bin Hamad Al Khalifa, the Crown Prince and Prime Minister of Bahrain at COP26, as well as the United Nations