Saudi Arabia - The Saudi Ministry of Investment (MISA) and Italian energy major Eni have signed an agreement aimed at promoting cooperation between Eni, Saudi institutions and companies mainly in the field of sustainable development around the country, and speciality conversion chemicals.

The memorandum of understanding (MoU) concerns cooperation areas such as the study of joint development of initiatives around sustainable mobility, circular economy and the chemicals industry.

The agreement came about as the Saudi Arabia’s Minister of Investment Khalid Al-Falih met the CEO of Eni, Claudio Descalzi.

During the meeting, Descalzi presented the company's decarbonization strategy with a special focus on the many industrial initiatives and technologies supporting the energy technology transition.

Al-Falih shared outlooks of the Kingdom vision 2030 and Saudi National Investment Strategy (NIS).

The two parties shared views about the role of Saudi Arabia based on current energy market challenges.

Eni has been operating in the refining and chemicals sector in Kingdom since 1984 through its subsidiary Ecofuel. 

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