Aramco Digital

History

Project Launch

Saudi Arabia has formed a state-owned digital company based on the state-owned oil company Saudi Aramco. The new structure was called Aramco Digital, which became known on January 30, 2023.

The project was announced by the executive director of Saudi Aramco, Amin Nasser. According to him, Aramco Digital will help the kingdom in introducing advanced artificial intelligence technologies in the energy industry. In addition, it is planned to implement digital innovations in industry. The new company will also help develop Saudi Arabia's digital economy through an ecosystem of partnerships, various projects and joint ventures. In general, the project is focused on accelerating digital transformation.

Saudi Arabia launched a state-owned company to invest $1.9 billion in digital technologies

I am proud to announce a major new digital transformation initiative related to the launch of Aramco Digital. We plan to invest $1.9 billion over three years, which will be Aramco's largest investment in digital technology, and will also increase the value of the kingdom's digital ecosystem, said Amin Nasser.

Commenting on the formation of the company, Ahmad A. Al-Sa'adi, Aramco's executive vice president of technical services, noted that the launch of Aramco Digital is a great example of innovation in action. The initiative will allow using the latest neural network-based solutions and other promising developments in a critical sector of the economy.

In addition, Saudi Aramco announced the signing of agreements and memoranda of understanding with a number of IT companies. These included video conferencing platform Zoom, fintech service provider Taulia, consulting company Accenture and others. The total amount of transactions concluded amounted to approximately $7.2 billion.^[1]

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