(MENAFN- Gulf Times) In the presence of HE the Minister of Energy and Industry Dr Mohamed bin Saleh al-Sada, Qatar Foundation (QF) and Russian petroleum industry leader Rosneft yesterday signed an agreement in Doha to open the Rosneft Research and Development Centre at Qatar Science & Technology Park (QSTP).
QF chief executive office's office executive director Omran al-Kuwari and Rosneft CEO Igor Sechin were the signatories. Through the agreement, Rosneft, which is the largest publicly traded petroleum company in the world, and QF aim to establish a groundbreaking research and innovation hub at QSTP that will pave the way for new technologies, collaborations, and training programmes.
The agreement between QF and Rosneft will also support Qatar's drive toward economic diversification and sustainability by enabling and accelerating the creation of new technologies that meet the needs of the energy sector at QSTP, a free zone and international hub for the development of market-ready tech products.
Co-operation between QF and Rosneft will extend to the joint funding of research projects focused on addressing areas of national priority for Qatar, including the potential for venture funding vehicles. Meanwhile, Rosneft intends to collaborate with academic institutions in Qatar to establish advanced training and occupational training programmes. The agreement serves to strengthen the exchange of knowledge and expertise between Qatar and Russia in the sphere of science and technology.
QF vice chairperson and CEO HE Sheikha Hind bint Hamad al-Thani said, 'We are delighted to sign this important agreement with Rosneft, and look forward to welcoming and working with researchers from the company to further develop areas of shared interest
within the energy sector.
'At QF, we believe research and development are among the most important elements of a competitive and diverse economy, and are therefore a key priority for empowering and activating innovation in Qatar, as well as with our partners worldwide.
Sechin, said, 'Today Qatar is not only an important player in the Arabian Gulf market, but also one of the leaders in the global oil and gas industry. The development of modern technologies in the fuel and energy sector has become a key driver in the socioeconomic successes of the country. Interaction in scientific and technical research is one of the goals of our cooperation. Qatar has created a unique research centre in which leading world companies and educational institutions operate, which creates grounds for a real breakthrough in the oil and gas science.
Rosneft joins a roster of leading companies from Qatar, the region, and around the world that develop and commercialize their technologies at QSTP, which offers state-of-the-art facilities within its hi-tech business park to local and multinational corporations, research institutes, public sector agencies, SMEs, and start-ups.
The research and development centre will focus on developing innovative solutions for the gas-to-liquids process; engineering plastic fabrication; gas processing to create feedstock for the petrochemical industry; and the creation of new catalysts, polymers, and lubricants.
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