Aramco and Baker Hughes have announced the formation of Novel, a 50/50 Joint Venture (JV) to develop and commercialize a broad range of non-metallic products for multiple applications in the energy sector.
Both companies signed a memorandum of understanding to create a non-metallics JV in July 2019. Novel’s new facility is being developed at King Salman Energy Park (SPARK), in Saudi Arabia’s Eastern Province. SPARK is a 50-square-kilometer energy city megaproject. Initially, the facility will produce onshore non-metallic pipelines – including reinforced thermoplastic pipes – from composite materials.