Saudi Aramco - Enterprise Tech Ecosystem Series

Saudi Aramco - Enterprise Tech Ecosystem Series

Summary

Saudi Arabian Oil Co (Saudi Aramco) is a state-owned energy and chemical company. It carries out the exploration, production and processing of crude oil and natural gas, refining, fractionation of natural gas, production of petrochemicals, and distribution of petroleum products and natural gas. The company operates wholly-owned domestic refineries and has interests in joint venture refineries with international partners. Saudi Aramco operates through a network of pipelines, bulk plants, air refueling sites, and terminals. The company also operates power plants and associated transmission and distribution facilities in the Kingdom of Saudi Arabia. The company has subsidiaries and joint ventures across the Americas, Europe and other regions.

In November 2021, Saudi Aramco Energy Ventures along with other companies jointly established TradeGo, a blockchain based digital service platform for global commodity trading.

In September 2021, Aramco announced expansion of its industrial investment program, Aramco Namaat, by signing 22 new MoU’s and one joint venture agreement focused on capacity building in sectors including sustainability, technology, industrial and energy services, and advanced materials.

In February 2022, Saudi Aramco officially launched Prosperity7 Ventures, a one-billion-dollar Venture Capital fund, which has been operational for over a year. Prosperity7 is designed as a global financial VC, with a view to support the development of next-generation technologies and business models.

The report provides information and insights into Saudi Aramco' tech activities, including -

• Insights of its digital transformation strategies and innovation programs
• Overview of technology initiatives covering partnerships, product launches, investments and acquisitions
• Insights on each technology initiative including technology theme, objective, and benefits
• Details of estimated ICT budgets and major ICT contracts

• Saudi Aramco embracing the power of digital technologies to reduce costs and enhance operational and production efficiencies to ensure long-term sustainability. The company has been exploring various emerging technologies and introduced various initiatives in partnership with companies working on technologies ranging from robotics, IoT, AI, machine learning, big data analytics, augmented and virtual reality, automation, cybersecurity, 3D asset virtualization, etc.
• In August 2021, Saudi Aramco deployed FogHorn Lightning Edge AI platform to enhance safety, proactive monitoring of equipment failure, and automation of drilling processes at site.
• The company engages and participates with tech corporates and key institutes, including King Abdulaziz City for Science and Technology (KACST), King Fahd University of Petroleum and Minerals (KFUPM), and King Abdullah University of Science and Technology (KAUST) for R&D initiatives.
• Saudi Aramco is focusing on digital innovation to recognize, develop, and implement new strategic technologies. For instance, it has been leveraging big data solutions in its upstream business ranging from operational predictive analytics to text and sentiment analysis to draw meaningful insights.

• Gain insights into Saudi Aramco's tech operations.
• Gain insights into its tech strategies and innovation initiatives.
• Gain insights into its technology themes under focus.
• Gain insights into various product launches, partnerships, investments and acquisition strategies.