Bahrain’s Oil and Gas Holding Company (Nogaholding) and Saudi Arabia-based Arab Petroleum Investments Corporation (APICORP) have signed an agreement to share knowledge and best practices on Environmental, Social, and Governance (ESG), sustainability initiatives and green financing.
Under the MoU, 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 the Kingdom of Bahrain’s energy sector. It was signed by APICORP’s Chief Executive Officer, Mr. Khalid Ali Al-Ruwaigh and Nogaholding Group Chief Executive Officer, Mr. Mark Thomas.
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 of APICORP, Mr. Aabed Al-Saadoun, alongside a number of other officials from both parties.
Mark Thomas Group CEO Nogaholding
“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 Bahrain’s Vision 2030. We look forward to revitalizing our oil and gas sector while moving towards a more sustainable method of energizing the kingdom and exploring avenues that lead to more efficient and alternative energy sources.”
Dr. Bin Daina said that “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 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.”
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