Saudi Aramco and Schneider Electric Saudi Arabia have signed a memorandum of understanding (MoU) that will see the two companies cooperate on Aramco’s Digital Transformation Program, according to a company press release.
The program will investigate how pieces of modern technology are impacting national industries, such as the oil and gas sector. Research will be conducted into technologies such as virtual reality, the industrial internet of things, big data and advanced analytics. Power management systems and integrated manufacturing operations management are also included under the MoU.
The MoU is the latest in a series of agreements designed to support Saudi Aramco’s 2020 Transformation Program and Saudi Arabia’s Vision 2030.