Driving a digital transformation agenda as an agent of resilience
Amin Nasser speaks about digital transformation at Future Investment Initiative Forum.
Held over two days, the Davos-styled Future Investment Initiative (FII) is an international platform for debate between global leaders, investors, and innovators.
The fourth installment of the event was partially held virtually this year due to the ongoing global COVID-19 pandemic.
The conference brings together leading CEOs, tech pioneers, investors and policy makers in-person in Riyadh, virtually and from hubs in New York, Paris, Beijing, and Mumbai to find innovative solutions to some of the world’s most pressing issues.
Cracking the code
Nasser took part in a panel discussion under the theme “Cracking the code: What is the future of global technology policy,” and revealed how Aramco has been leveraging data analytics and cutting-edge technologies to benefit its operations.
The CEO shared the platform with HE Abdullah Amer Al-Swaha, Saudi Arabia’s Minister of Communications and Information Technology, and Dr. Thomas A. Kennedy, executive chairman, Board of Directors, Raytheon Technologies.
Asked how Aramco had been adapting to the digital age and what types of disruptive and emerging technologies have been deployed by the company, Nasser told the FII that technology has been playing a critical role in adding value to the business.
We are seeing the accelerated improvements in the technologies that we are currently adapting.
— Amin Nasser
Benefiting from technology“We are benefiting a lot from technologies,” he said, “We are seeing the accelerated improvements in the technologies that we are currently adapting.
“If we look at the technology in Aramco, we’ve benefited in terms of discovery, we’ve benefited in recovery, we’ve benefited in cost optimization, efficiency, and reliability of course, and also in reduction of carbon emissions.”
Nasser singled out data analytics as a key enabler in efficiently managing reservoirs.
“We use simulation models that started with 1 million cell simulation models and now we are using 1 trillion cell simulation models to manage our reservoirs.”
The CEO noted the company’s achievements in deploying cutting-edge technologies.