Russian technology project on oil refinery cleaning to enter the Arab market

The Russian tech company Angara and one of the world's largest oil producers, Saudi state company Saudi Aramco, signed a memorandum of cooperation. This was reported to the editors by CEO of Angara Service LLC Ilya Rodin based on the results of the visit to Saudi Arabia.

As part of the agreement, Angara will offer to the petroleum industry of Saudi Arabia a new cleaning method for oil refinery heat exchangers. "Our company has laid strategic focus on Gulf countries," the head of Angara Ilya Rodin commented the signing of the agreement. "Cooperation with Saudi Aramco is an important step in strengthening our position in the region. In addition, in autumn 2019, we have opened an office in Bahrain and have started negotiations with a number of influential Arab oil companies, service providers, and industrial experts."

The Russian development enables cleaning of most types of oil refinery contamination – from heavy-fraction deposits to lighter compounds. This process requires no capital expenditure, is faster than traditional methods, and has an immediate economic effect.

The Angara Cognitive CleaningTM technology can compensate the annual world economic losses of $136 B caused by the industrial contamination of heat exchangers and reduce global greenhouse gas emissions to 2.5%.

The Saudi state oil company Saudi Aramco signed a total of nine memorandums of cooperation with Russian companies as part of the recently held Russian-Saudi Investment Forum in Riyadh. Moreover, the oil major will jointly with Russian Direct Investment Fund buy the share of Rusnano in the oilfield service company Novomet. This was announced on October 14 in the presence of the Russian President Vladimir Putin and the King of Saudi Arabia Salman bin Abdulaziz Al Saud.

The project AlfaPEROX Heat Exchanger Cleaning Technology implemented by Angara Service was approved for support by the Expert board of the Agency for Strategic Initiatives (ASI) in November 2017. The ASI supported the company in interaction with the relevant executive bodies and the pilot introductions of the method in industrial facilities.

As previously reported, the ASI would help Saudi and Russian business persons and investors enter the local markets of the two countries. In addition, the Agency would share its experience of reforming the investment climate in the production sector of the Russian economy, including the National Business Initiative for advancing Russia in the World Bank's Doing Business rating.