Honeywell and Saudi Aramco signed a memorandum of understanding (MoU) that advances their long-standing co-operation, further supports the development and diversification of Saudi Arabias oil and gas sector, and accelerates the benefits of the Industrial Internet of Things (IIoT) within Saudi Aramcos operations.
The companies will work together to increase throughput, raise yield, and improve reliability of Saudi Aramcos operations by leveraging Honeywells cloud-based services and predictive analytics solutions.
The agreement was signed in Riyadh by Honeywell president and CEO, Darius Adamczyk, and Saudi Aramco president and CEO, Amin H Nasser, during a series of meetings where the companies discussed the opportunities and benefits of leveraging Honeywell Connected Plant (HCP).
HCP combines Honeywells unmatched industrial expertise, software, and cloud technologies to enable its customers operations to be more reliable, profitable, and secure than ever before. As Saudi Arabia continues to diversify its industries in line with Vision 2030, the introduction of IIoT technologies such as HCP and other connected process technologies from Honeywell UOP is playing a critical role in this transformation.
The new agreement will allow Saudi Aramco to enhance operational performance across its network of facilities while presenting significant opportunities for Honeywell to advance the adoption of the latest software industrial solutions.
Nasser said: Saudi Aramcos strategic objective is 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. 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.
Adamczyk said: We have always enjoyed a strong relationship between our two companies, working closely together to build, develop, and diversify Saudi Arabias oil and gas sector. This agreement represents a significant milestone toward connecting the processes, assets, and people to drive optimal performance for Saudi Aramco.