The Saudi Arabian Oil Company, or Saudi Aramco, has tapped multinational technology company Honeywell to improve its productivity and sustainability, local reports have said.
Honeywell has already signed an MoU with Aramco in this regard, said the reports.
The two will reportedly aim to explore the co-development and commercialization of next-generation digital technology solutions.
The solutions are expected to be designed to help improve productivity, sustainability, and operational excellence of industrial companies on a global scale.
The fully digital technology will reportedly leverage Aramco’s Plant.Digital system and its technical and domain knowledge in end-to-end plant operations.
It is expected to be brought to the market through a joint venture between the two companies.
The JV will apparently also serve as a software system integrator to reduce time-to-value for customers.
The proposed JV is expected to create more than 500 jobs in Saudi Arabia within five years of its launch.
Aramco Chief Digital Officer Nabil Al Nuaim was quoted by the local reports as saying: “This partnership will boost locally developed content, contribute to GDP growth, create new jobs, expand the Kingdom’s digital industrial ecosystem, accelerate digital talent development and sustain Aramco’s resilience.”
According to him, the proposed JV will provide digital solutions and services to allow industrial companies to integrate business and manufacturing data from across the full breadth of plant operations to help maximize yield, reduce downtime and improve plant productivity and sustainability.
The solutions are expected to combine world-class business processes and plant optimization applications through a competent integration and visualization architecture.
This cooperation reportedly builds on an MoU signed between Honeywell and Aramco in 2017 to explore the benefits of Honeywell’s Industrial Internet of Things offering.