On Wednesday 23rd October 2019, King Fahd University of Petroleum & Minerals (KFUPM) signed a framework agreement for research cooperation and technology development with Halliburton, one of the University strategic partners, with its research center in the Dhahran Techno Valley.
The agreement was signed by His Excellency Dr. Mesfer Al-Zahrani, Vice Rector for Academic Affairs, and Mr. Sriram Srinivasan, Vice President of Halliburton Global Technology, in the presence of the Halliburton Regional Director and the Deputy Director for Technology Localization, Senior Innovation Manager and Global Research Centers, in addition to a number of Halliburton consultants, to facilitate the implementation of joint ventures.
The agreement represents an umbrella for cooperation between the two sides in the fields of research and innovation and paves the way for a number of pre-agreed joint projects related to the fields of research, development and commercialization of technology, thus enhancing the utilization of the university's research capabilities in the commercialization and localization of technology to meet the company's main technical challenges in the field of oil and gas, and in the techniques of the fourth industrial revolution that serves the national economy.
The agreement was signed during the joint workshop between Halliburton and the University, and discussed several selected joint projects from a large number of challenges faced in the fields of oil and gas. Selection criteria were consistent with the KFUPM research plan. It is an addition to the scientific and research content that supports the cooperation between KFUPM’s different departments and centers. The selection criteria also included the building of a long-term partnership with the Halliburton Technology Center in the development and localization of technology.