Saudi Arabia Refineries Company (SARCO) has signed a non-binding memorandum of understanding (MoU) with UAE-based Go Energy to collaborate on developing a green hydrogen (ammonia) project in Saudi Arabia.
The companies agreed to conduct a joint study to develop the proposed green hydrogen (ammonia) project, as well as to design a legal framework to support their cooperation, SARCO said in a statement to the Saudi stock exchange on Sunday.
The MoU, effective from 11 October 2025, will be valid for one calendar year unless otherwise agreed in writing.
There are no financial implications from the signing of the MoU, SARCO said.
The collaboration falls within SARCO’s strategy to expand its energy-related services through specialised partnerships in the energy sector.
Go Energy Group is an Umm Al Quwain-based company investing in multiple sectors including renewable energy and green hydrogen projects, acording to its website.
(Editing by Anoop Menon) (anoop.menon@lseg.com)
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