RIYADH: Saudi Arabian Oil Company, also known as Aramco, has joined hands with Thailand’s national oil company PTT, as it expands its footprints in Asia. 

Both the companies will work together in areas of blue and green hydrogen and various clean energy initiatives, according to a statement.

The companies signed a memorandum of understanding on May 11, aimed at strengthening cooperation across crude oil sourcing and the marketing of refining and petrochemical products and liquefied natural gas. 

Ibrahim Al-Buainain, Aramco VP of Sales, Trading and Supply Planning, said: “Today represents an important step forward as we deepen and broaden this relationship to achieve greater cooperation across a wide range of activities, from sourcing crude oil and marketing refining and petrochemical products and LNG, to exploring blue and green hydrogen and progressing other clean energy initiatives.”

Auttapol Rerkpiboon, PTT President & CEO said: “Today marks a significant milestone for PTT and Aramco as we look to the future and extend our collaboration beyond conventional energy. It also reflects our ongoing commitment to the security of supply as we embrace the energy transition.”