The Greenstone Weekly - Vol 56

Indonesia’s Pertamina signs agreement with Mubadala Energy to explore geothermal projects (The National)

• Pertamina Geothermal Energy, a unit of Indonesia's state energy firm Pertamina, has signed an agreement with Chevron and?Mubadala Energy?to explore geothermal projects in the South-East Asian country.
• The agreement provides a “comprehensive” framework to conduct a joint study into developing the Kotamobagu geothermal field in Indonesia’s North Sulawesi province, the companies said in a statement on Tuesday.

ADIO expands Abu Dhabi’s SAVI cluster with Ascendance and Manta Aircraft (Zawya)

• In a further boost to Abu Dhabi’s Smart and Autonomous Vehicles Industry (SAVI) cluster, the Abu Dhabi Investment Office (ADIO) today signed strategic agreements with France’s Ascendence and Italy’s Manta Aircraft on setting up operations in the UAE capital. Signed during the Dubai Airshow, the agreements mark the latest milestone in Abu Dhabi’s emergence as a global capital for advanced urban mobility.
• Centred in Masdar City, Abu Dhabi’s fully integrated SAVI cluster provides state-of-the-art facilities, services, and regulatory framework to enable the design, testing, and manufacturing of applications for transportation and mobility on air, land and sea, as well as to service other sectors such as logistics.

Saudi Arabia's PIF to take 25% stake in Alkhorayef Petroleum (Oil Review)

• Alkhorayef Group, the parent company and current shareholder of Alkhorayef Petroleum, will retain a 75% stake.
• Alkhorayef Petroleum specialises in artificial lift, wireline services and equipment, as well as early production facilities. It is the only Gulf-based manufacturer of electric submersible pumps, critical to oil and gas production. The company has achieved a diversified revenue base and a successful operational track record in 13 countries across the Gulf Cooperation Council countries, as well as in Africa and Latin America.

Gulf Investment Corp buys stake in Pipecare Group: statement (Zawya)

• Kuwait-based Gulf Investment Corporation (GIC) said on Monday it has acquired a significant minority stake in Pipecare Group Holding, a major provider of pipeline inspection services.
• A joint statement from GIC and UAE-based Pipecare Group said the transaction was completed in Abu Dhabi on Nov. 15. It did not give details of the size of the stake, nor the value of the investment.
• GIC is a financial institution equally owned by the six member states of the Gulf Cooperation Council (GCC) which was established to promote cooperation and growth across the region.