Arabian Internet and Communication Services Company (solutions by stc) and Saudi Arabian Oil Company (Aramco) solidified a significant contract with a total value of SAR 329 million. The comprehensive agreement encompasses the delivery of supercomputer infrastructure, along with hosting, maintenance, support, and associated services, as officially disclosed in a statement.
Aramco’s digital transformation journey with solutions by stc
solutions by stc will play a pivotal role in supporting Aramco’s digital transformation journey over the next five years. This support includes the provision of private secured network facilities, the implementation of advanced cybersecurity measures, and the establishment of robust access control mechanisms.
The implications of this collaboration extend beyond the immediate technological enhancements. solutions by stc emphasised that the partnership will be reflected in its financial statements, with the impact set to commence in the fourth quarter of 2023. The commitment to a five-year engagement underscores a long-term vision for mutual growth and success in the rapidly evolving landscape of digital infrastructure.
Examining the financial landscape, solutions reported noteworthy net profits of SAR 1.03 billion in the first nine months of 2023. Concurrently, Aramco experienced a 27.46 per cent decline in net profits during the same period, falling from SAR 488.78 billion in 9M-22 to SAR 354.54 billion. This financial context underscores the strategic significance of the collaboration, positioning solutions as a key player in supporting Aramco’s technological evolution amidst a dynamic economic environment.
