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Home News $87m supercomputer contract signed by Saudi Aramco

$87m supercomputer contract signed by Saudi Aramco

by Celia

The Arabian Internet and Communication Services Company (solutions by stc) and the Saudi Arabian Oil Company (Aramco) have signed a major contract worth SAR 329 million. The comprehensive agreement includes the delivery of supercomputing infrastructure, along with hosting, maintenance, support and related services, according to an official statement.

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Aramco’s digital transformation journey with solutions from STC

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Solutions by STC will play a pivotal role in supporting Aramco’s digital transformation journey over the next five years. This support will include the provision of private secure network facilities, the implementation of advanced cybersecurity measures and the establishment of robust access control mechanisms.

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The impact of this collaboration goes beyond the immediate technology enhancements, with Solutions by STC highlighting that the partnership will be reflected in its financial statements, with the impact set to start in Q4 2023. The five-year commitment underscores a long-term vision for mutual growth and success in the rapidly evolving digital infrastructure landscape.

Looking at the financial landscape, Solutions reported a remarkable net profit of SAR 1.03 billion in the first nine months of 2023. At the same time, Aramco experienced a 27.46 per cent decline in net profits over the same period, from SAR 488.78 billion in 9M-22 to SAR 354.54 billion. This financial context underscores the strategic importance of the collaboration, positioning Solutions as a key player in supporting Aramco’s technological evolution in a dynamic economic environment.

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