Saudi Aramco, Honeywell ink MoU to accelerate industrial digitisation
Honeywell and Saudi Aramco have signed a new agreement aimed at accelerating the impact of the Industrial Internet of Things (IIoT) on the oil and gas industry
Honeywell and Saudi Aramco have signed a new agreement aimed at accelerating the impact of the Industrial Internet of Things (IIoT) on the oil and gas industry.
The memorandum of understanding (MoU) is said to represent the two companies’ commitment to working together to increase throughput and raise yield.
The partnership will see both stakeholders working towards improving the reliability of Saudi Aramco’s operations by leveraging Honeywell’s cloud-based services and predictive analytics systems.
According to Honeywell, IIoT technologies are playing a critical role in the kingdom’s transformation, as it seeks to diversify its industries in line with Saudi Vision 2030.
Amin H Nasser, president and chief executive officer of Saudi Aramco, commented: “Saudi Aramco’s strategic objectives are to collaborate with partners who are technology leaders and add strategic value to our company, sector, and the country as a whole.
“Having worked closely with Honeywell for the past six decades, we have established a unique professional relationship based on mutual trust, common goals, and shared commitment to our industries – a reflection of the strong relationship between Saudi Arabia and the United States.”
He added: “This agreement represents a new platform to further enhance these efforts, and I look forward to this exciting chapter as we continue to leverage decades of global and regional experience in the sector.”