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TAQA secures $2.31bn loan

It will be utilized in a phased manner.

Aramco signs $11bn deal

The deal involves its Jafurah gas facilities.

TAQA H1 net income $1bn

The group's revenue reached $7.73 billion.

ADNOC L&S H1 net profit $420m

The company’s revenue reached $2.43bn

SEC H1 net profit $1.67bn

Revenue grew by 24% to $7.38 billion.

Aramco, Saudi varsity sign MoU

The center will support research, development and marketing of AI technologies. (SPA)
  • The center will support research, development and marketing of advanced artificial intelligence technologies.
  • It will combine leading innovations of digital transformation adopted by Saudi Aramco and the globally accredited academic excellence at KAUST.

Saudi Aramco has signed an MoU with King Abdullah University of Science and Technology (KAUST) to establish a center at the varsity’s headquarters.

The center will support research, development and marketing of advanced artificial intelligence technologies, through addressing impacts of works at Saudi Aramco at the sustainable institutional level instead of individual projects, according to Saudi media reports.

The memorandum of understanding was signed at the university headquarters in Thuwal by Saudi Aramco’s Vice President of Digital Transformation Nabil Al-Nuaim and Vice President for Research at KAUST Dr. Donal Bradley.

Al-Nuaim said the AI excellence center combines leading innovations of digital transformation adopted by Saudi Aramco and the globally accredited academic excellence at KAUST.

Dr. Bradley said the center will provide a joint framework for working with Saudi Aramco in a close way to develop solutions for the needs of the energy sector, among other relevant sectors, in addition to training the cadres necessary to improve the development pace in this vital and important sector.

Under the memo, the new AI excellence center seeks to develop research skills, improve products and commercial marketing and entrepreneurship in the kingdom by creating opportunities for research and advanced development of AI, based on globally distinguished data groups.

The center also seeks to be an advanced model in the research development system in the field of AI in Saudi Arabia.