Manama, August 15 (BNA) The Oil and Gas Holding Company BSC (closed) and the Arab Petroleum Investments Corporation (APICORP) signed a memorandum of understanding to enhance cooperation between the two parties.
nogaholding will leverage APICORP’s expertise as a partner for the Arab energy sector to support the company’s strategic initiatives and projects that will be critical to the future of the energy sector in the Kingdom of Bahrain. This includes sharing knowledge and best practices on environmental, social and governance (ESG) aspects, sustainability initiatives, and green finance.
The MoU was signed by Mark Thomas, CEO of the nogaholding group, and Khaled Ali Al-Ruwaij, CEO of APICORP.
The meeting was attended by the Minister of Oil and Environment, the Special Envoy for Climate Affairs, Board Member and Deputy Minister of Energy, Chairman of the Board, Dr. Muhammad bin Mubarak bin Dina.
“We are pleased to witness this partnership between two entities focused on developing the Arab energy sector and exchanging knowledge for the benefit of societies,” said Dr. Bendinah.
“The Kingdom has made great strides in developing the oil and gas sector while working responsibly to fulfill the decarbonization mandates as pledged by His Royal Highness Prince Salman bin Hamad Al Khalifa, Crown Prince and Prime Minister of Bahrain at COP26, as well as as the United Nations Sustainable Development Goals. With APICORP’s expertise We can expect this partnership to accelerate the energy transition and adoption of environmental, social and corporate governance principles in Bahrain.”
“Our mission is to contribute to the development and transformation of the Arab hydrocarbons and energy industry through equity, debt financing and advisory services and to provide the Arab energy sector with financial solutions for tomorrow’s energy,” said Dr. Abed Al-Sadoun, Chairman of the Board of Directors of APICORP.
Al-Sadoun noted that the MoU with Nogaholding is a testament to APICORP’s focus on supporting the Arab energy sector in a balanced energy transition that enables social and economic growth and workforce empowerment.
“Being the only multilateral financial institution in the region with solid expertise in financial services and sustainable energy solutions, APICORP is pleased to partner with nogaholding and support its commendable strategic initiatives aimed at improving the Bahraini energy sector,” said Al-Ruwaij.
He emphasized working closely with nogaholding to advance corporate sustainability and ESG practices, providing financial advice on sustainable energy projects and supporting effective structuring and arranging financing.
The CEO of APICORP said that this partnership will help the company to solidify its legacy in providing financial services.
NM / FKN