Saudi Aramco+0.48%
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Aramco, IBM announce joint project in S. Arabia
Saudi Arabian Oil Company (Aramco) and International Business Machines Corporation signed a memorandum of understanding on Monday, outlining plans for a strategic collaboration to establish an "Innovation Hub" in Riyadh, Saudi Arabia.
According to Aramco's Senior Vice President of Technical Services Ahmad Al Sa'adi, the project "aspires to achieve potential breakthroughs in the energy sector that will have an industry-wide impact... drive economic growth and enable decarbonization through digital technologies."
General Manager of IBM Middle East and Africa Saad Toma underlined the company's commitment to be part of Saudi Arabia's 2030 digital economy plan. "This collaboration aims to help develop local skills and talent with the knowledge and expertise needed to build this vision for the future using IBM technologies and expertise," said Toma.