Aramco and artificial intelligence: How did it generate $6 billion?
In a move reflecting the success of digital transformation strategies in the energy sector, Amin Nasser, President and CEO of Saudi Aramco, revealed a significant leap in financial returns resulting from the use of artificial intelligence technologies , confirming that the company was able to achieve added value of $6 billion during 2023 and 2024.
This came during his participation in a specialized dialogue session on artificial intelligence within the activities of the World Economic Forum in Davos, where Al-Nasser explained that this figure represents a huge leap compared to previous years in which revenues did not exceed $300 million, highlighting the great acceleration in the adoption of modern technologies within the Saudi oil giant.
Strategic shift in the energy sector
This announcement comes amid a global shift towards integrating technology into traditional industries. Al-Nasser noted that Aramco is currently leveraging artificial intelligence more extensively in its downstream refining and distribution sectors than in its upstream exploration sector . This approach demonstrates the company's commitment to enhancing supply chain efficiency and improving operational processes to minimize waste and maximize profitability, aligning with the goals of Saudi Vision 2030 to foster a digital economy and industrial innovation.
Promising figures and future projections
Speaking about future prospects, Al-Nasser stated that the company anticipates the official announcement of its 2025 figures next month, amid positive indicators pointing to savings and added value ranging between $3 billion and $5 billion. He emphasized that "data quality is essential to realizing the value of artificial intelligence ," noting that success depends not only on possessing the latest equipment but also requires a robust data infrastructure and a qualified workforce. He added that Aramco is proud to currently have 6,000 specialists in this vital field.
Huge investments and projects under construction
The discussion wasn't limited to current operations; Al-Nasser also looked to the future, revealing that projects worth up to $100 billion are currently under construction . He emphasized that integrating artificial intelligence into these projects from the outset will create tremendous added value, explaining that the next phase aims to achieve fully automated operations managed by intelligent systems while strictly adhering to the highest global safety standards.
Operational efficiency and environmental sustainability
Regarding operational performance, Al-Nasser reviewed tangible results from the use of artificial intelligence in exploration and production operations, where the technology contributed to:
- Increased productivity of some wells by up to 40%.
- Increase the accuracy of identifying production areas to more than 90%.
- Reduce operating costs significantly.
- Reducing carbon emissions, which supports the company's efforts in the field of environmental sustainability.
Al-Nasser concluded his remarks by emphasizing that the presence of a dedicated venture capital arm in Aramco was a key pillar in the development of these technologies, stressing that the opportunity is now ripe to maximize the financial benefit from the smart solutions developed within the company.
