MUSCAT: Oman and Saudi Arabia signed 13 memorandum of understanding (MOU) to jointly work on specific projects within the economic sectors through a number of companies owned by the Oman Investment Authority (OIA) and the private sector firms.

Three agreements were signed by OQ Group, the first in the petrochemical, renewable energy and green hydrogen sectors with Saudi Arabia’s ACWA Power and UberProduct Company, and the second agreement was signed in the field of oil storage with Aramco Trading. The agreement is relates to evaluating the appropriateness of storing and trading in petroleum materials.

The third agreement has been signed with SABIC, with the aim of developing the Duqm Petrochemical Complex project. An agreement was also signed between the Asyad Group and the Saudi Maritime Transport Company in the field of dry dock, logistics and maritime transport, while the Oman Minerals Development Company signed an agreement with the Saudi Maaden Company to assess exploration and development opportunities in the mining sector.

Omran Group signed a memorandum of understanding related to tourism investment to develop a tourism project in Yiti Beach with the Saudi Dar Al Arkan Company. Other agreements include in the field of fish farming between the Oman Fisheries Development Company and Saudi “Naqwa”, and in the field of financial markets between the Muscat Stock Exchange and the Saudi Tadawul Group, with the aim of cooperating in stock exchange operations and dual listing of companies.