American Petroleum Institute Inc. said March 13 that it signed a memorandum of understanding with the Gulf Cooperation Council Standardization Organization in a bid to foster technical cooperation on standards for the oil and natural gas industry.

The MOU supports standardizing industry practices, exchanging information regarding industry certification, conducting joint studies and exchanging data and research ranging from economic analysis to toxicological testing, capacity building to increase the American Petroleum Institute and the Gulf Cooperation Council Standardization Organization expert community's level of knowledge, and exchanging experts in a bid to enhance technical cooperation between regions.

The American Petroleum Institute is the largest U.S. trade association for the oil and natural gas industry.

The Gulf Cooperation Council Standardization Organization was established by resolution of the Gulf Cooperation Council Supreme Council in 2001 and started operations in 2004. Its member states include Bahrain, Kuwait, Oman, Qatar, Saudi Arabia, the United Arab Emirates and Yemen. The organization is headquartered in Riyadh, Saudi Arabia.