Saudi Aramco uses technology to improve emissions, says CEO

Saudi Aramco was able to reach a 70 percent recovery rate, all due to technology, according to Amin Nasser, the company’s president and CEO, who was speaking at the Future Investment Initiative. (Screenshot: FII Institute)
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Updated 28 January 2021
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Saudi Aramco uses technology to improve emissions, says CEO

  • Amin Nasser was speaking on day one of Future Investment Initiative in Riyadh

JEDDAH: Saudi Aramco has been taking advantage of accelerated technology to build its reliability in the market as well as decreasing carbon emissions.

Using data analytics and simulation models to manage reservoirs has helped the company reach a 70 percent recovery rate, all due to technology, according to Amin Nasser, Saudi Aramco’s president and CEO.

“Our reliability for 2020 is 99.8 percent, one of the highest in the world in terms of delivery,” he told delegates during the fourth edition of the Future Investment Initiative (FII) forum, which is currently underway in Riyadh.

Saudi Arabia’s “agility and executional speed” to invest in technology has given the Kingdom the largest digital investment in the Middle East and North Africa, worth a billion dollars, the Saudi Minister of Communications and Information Technology, Eng. Abdullah Amer Al-Swaha, said during the panel, entitled “Cracking the Code: What is the future of global technology policy?”

The minister also announced a partnership with Babylon Health to use data and artificial intelligence (AI) to reduce the cost of health consultations to a dollar when delivered by a machine.

Saudi Finance Minister Mohammed Al-Jadaan encouraged investors to consider the vast industries within the Kingdom that offer ample investment opportunities through privatization, even during challenging times as a result of the COVID-19 pandemic.

With the ongoing restructure of laws and regulations, the Kingdom has worked hard to ramp up up investment and provide further business opportunities, while being transparent with its partners, the minister added.

“In addition to all of this, we’ve reformed the capital market both on the equity side and debt side, the latter market has grown up to 200 percent during 2020 and we’re likely to see further growth,” he concluded.


Saudi Arabia’s cultural sector is a new economic engine between Riyadh and Paris, says ambassador

Updated 25 January 2026
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Saudi Arabia’s cultural sector is a new economic engine between Riyadh and Paris, says ambassador

RIYADH: Culture has become a fundamental pillar in bilateral relations between France and Saudi Arabia, according to the French Ambassador to the Kingdom, Patrick Maisonnave.

Maisonnave noted its connection to the entertainment and tourism sectors, which makes it a new engine for economic cooperation between Riyadh and Paris.

He told Al-Eqtisadiah during the opening ceremony of La Fabrique in the Jax district of Diriyah that cultural cooperation with Saudi Arabia is an important element for its attractiveness in the coming decades.

La Fabrique is a space dedicated to artistic creativity and cultural exchange, launched as part of a partnership between the Riyadh Art program and the French Institute in Riyadh. 

Running from Jan. 22 until Feb 14, the initiative will provide an open workspace that allows artists to develop and work on their ideas within a collaborative framework.

Launching La Fabrique as a space dedicated to artistic creativity

The ambassador highlighted that the transformation journey in the Kingdom under Vision 2030 has contributed to the emergence of a new generation of young artists and creators, alongside a growing desire in Saudi society to connect with culture and to embrace what is happening globally. 

He affirmed that the relationship between the two countries is “profound, even cultural par excellence,” with interest from the Saudi side in French culture, matched by increasing interest from the French public and cultural institutions unfolding in the Kingdom.

Latest estimates indicate that the culture-based economy represents about 2.3 percent of France’s gross domestic product, equivalent to more than 90 billion euros ($106.4 billion) in annual revenues, according to government data. The sector directly employs more than 600,000 people, making it one of the largest job-creating sectors in the fields of creativity, publishing, cinema, and visual arts.

Saudi Arabia benefiting from French experience in the cultural field

Maisonnave explained that France possesses established cultural institutions, while Saudi Arabia is building a strong cultural sector, which opens the door for cooperation opportunities.

This comes as an extension of the signing of 10 major cultural agreements a year ago between French and Saudi institutions, aiming to enhance cooperation and transfer French expertise and knowledge to contribute to the development of the cultural system in the Kingdom.

He added that experiences like La Fabrique provide an opportunity to meet the new generation of Saudi creators, who have expressed interest in connecting with French institutions and artists in Paris and France.

La Fabrique encompasses a space for multiple contemporary artistic practices, including performance arts, digital and interactive arts, photography, music, and cinema, while providing the public with an opportunity to witness the stages of producing artistic works and interact with the creative process.