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Emerson, Saudi Aramco Sign Collaboration Deal on Digitisation

Source: www.gulfoilandgas.com 6/12/2017, Location: Middle East

Emerson signed a Memorandum of Understanding (MoU) with Saudi Aramco during the recently held Saudi-U.S. CEO Forum in Riyadh. The agreement signed by David N. Farr, Emersonís chairman and chief executive officer and Amin H. Nasser, Saudi Aramco President and CEO, will help bring advanced digitization and automation technologies to one of the leading energy and chemicals companies.

Emerson was one of several companies chosen by Saudi Aramco to promote bilateral trade and investment between Saudi Arabia and the United States and to further cement the strong historic relations between the Kingdom and the U.S.

"This collaboration will aid in strengthening the digital transformation of Saudi Aramco," said David N. Farr of Emerson. "More doors will be opened for developing talent and training our workforce across the Kingdom."

The agreement paves the way for Emerson to explore collaboration with Saudi Aramco in the following areas:

- use of Emersonís Plantwebô digital ecosystem, which utilizes the Industrial Internet of Things, wireless, and smart instrumentation technologies;
- training for Saudi Aramco employees;
- digital oil field initiatives;
- research and development of advanced applications for process automation;
- consultancy services in the areas of reliability, energy conservation, and flow assurance; and
- Emersonís Project Certainty initiative to help Saudi Aramco reduce costs and schedules for future projects.

As part of the agreement, Emerson will continue investing in the Kingdom by training Saudi Aramco engineers and technicians through Emersonís educational facility and creating more jobs for Saudi locals. Emerson will also provide Saudi Aramco with its Operational Certainty offerings which are designed to increase the reliability of existing facilities and get more value out of existing assets.

Emersonís continued support for Saudi Aramco is reflected in the development of its own facility in Dhahran Techno Valley that is currently under construction. Emerson is investing USD 25 million in this facility to provide support and services to the oil and gas, mining and other process industries across Saudi Arabia. The Emerson facility will contain offices, training facilities for local talent development, a service and light manufacturing workshop, a technology and collaboration center, as well as laboratories specializing in control systems, flow metering technologies, and research and development. The facility is scheduled for completion in January 2018.

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Related Articles: Accounting, Statistics  Acquisitions and Divestitures  Asset Portfolio Management  Economics/Financial Analysis  General  Insurance  Investment  Mergers and Acquisitions  Risk Management 


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