PIF-backed US tech firm planning innovation center with Aramco

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Magic Leap is ‘digitizing the physical space’ for industries by putting an industry’s physical equipment and data into the augmented reality (AR) system, which could be meticulously examined and enhanced. (Supplied)
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Magic Leap is ‘digitizing the physical space’ for industries by putting an industry’s physical equipment and data into the augmented reality (AR) system, which could be meticulously examined and enhanced. (Supplied)
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Magic Leap is ‘digitizing the physical space’ for industries by putting an industry’s physical equipment and data into the augmented reality (AR) system, which could be meticulously examined and enhanced. (Supplied)
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Magic Leap is ‘digitizing the physical space’ for industries by putting an industry’s physical equipment and data into the augmented reality (AR) system, which could be meticulously examined and enhanced. (Supplied)
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Magic Leap is ‘digitizing the physical space’ for industries by putting an industry’s physical equipment and data into the augmented reality (AR) system, which could be meticulously examined and enhanced. (Supplied)
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Updated 28 March 2021
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PIF-backed US tech firm planning innovation center with Aramco

  • Augmented reality startup Magic Leap in pilot project to develop first-of-its-kind facility in KSA

CHICAGO: Magic Leap, a US augmented reality startup backed by the Saudi sovereign wealth fund, is negotiating with oil giant Saudi Aramco to open a first-of-its-kind computing innovation center in the Kingdom, CEO Peggy Johnson has told Arab News.

The Florida-based tech firm, which was supported with an injection of $400 million from the Public Investment Fund (PIF) in March 2018, announced at January’s Future Investment Initiative forum in Riyadh a partnership with Aramco to expand uses of its virtual reality headset technology in the oil industry.

Johnson said Magic Leap I, which began manufacturing virtual reality headsets for the video gaming industry in 2010, was now at the cutting edge of a technology that allowed leaders in industries from medicine to manufacturing to collaborate on challenges in a virtual visual setting, all while being in separate geographic locations. “We are planning with Aramco eventually to jointly launch a dedicated special computing innovation center in Saudi Arabia and that will be the first of its kind in the world.

“So, it will allow us, together with Aramco and others in the Kingdom, to continue to innovate in the space and seek out new use cases for the platform and we are really excited to be working with Aramco on that,” Johnson added.

A timetable to open the center, which would bring Aramco’s physical and virtual worlds together, was still under discussion and “in the planning stages,” said the chief executive.

Johnson pointed out that Magic Leap was “digitizing the physical space” for industries by putting an industry’s physical equipment and data into the augmented reality (AR) system, which could be meticulously examined, discussed, and enhanced.

Based in southern Florida, Magic Leap signed a multiyear partnership agreement with Aramco to deploy the special transformation solutions within their operations.

When you look through the device you still see your physical world, but it enhances the environment with helpful digital content that we can place in your environment.

Peggy Johnson, Magic Leap CEO

“We are engaged right now … so the things we have been exploring, such as 3-D meetings and remote assistance, are to help solidify Aramco’s position as the leader in the oil and gas industry,” she added.

“We are starting pilot programs right away and also looking at virtual training to facilitate that idea of remote collaboration and education.”

Johnson noted that the business was preparing to release a highly advanced system, Magic Leap II, at the end of the year that would be widely available in 2022.

“Our first-generation product is a wearable Magic Leap I. It is essentially a head-mounted, augmented reality display. When you look through the device you still see your physical world, but it enhances the environment with helpful digital content that we can place in your environment,” she said, adding that users could interact together with the digital data and images on multiple virtual screens. 

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The Florida-based tech firm was supported with an injection of $400 million from PIF in March 2018.

Johnson said Magic Leap II would “be half the size of Magic Leap I and it will double the field of view that you can augment on top of.” It would also reduce the size of the equipment, making it 20 percent lighter, while allowing for even more visuals to be displayed.

Magic Leap I has already been used in the medical industry, where doctors at the University of California Davis Children’s Hospital prepared for the surgical separation of conjoined twin babies.

Johnson said the surgical teams prepared for the operation using Magic Leap technology. “That surgeon may not be the expert in the field, but when they are performing a surgery, they can actually call an expert in for remote assistance.

“Let us say it is brain surgery. They may be in the midst of things and they have a question and they really want to talk to somebody who has done maybe a number of these surgeries. You can actually do that with the device. You can make a call to a remote expert and they can see what that surgeon is seeing and talk them through assistance,” she added. There was “no limit” to the number of experts that could be brought in to help in a complex surgical procedure, improving success rates and also reducing costs.

She said the coronavirus disease (COVID-19) pandemic had accelerated potential uses, as Magic Leap offered solutions to people who could not travel or needed to be socially distanced.

“I do think the pandemic was a catalyst. We had been working on all of these use cases, but all of a sudden it became very important to companies,” Johnson added.


Saudi Arabia opens 3rd round of Exploration Empowerment Program

Updated 01 February 2026
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Saudi Arabia opens 3rd round of Exploration Empowerment Program

RIYADH: Saudi Arabia’s Ministry of Industry and Mineral Resources, in collaboration with the Ministry of Investment, has opened applications for the third round of the Exploration Empowerment Program, part of ongoing efforts to accelerate mineral exploration in the Kingdom, reduce early-stage investment risks, and attract high-quality investment from local and international mining companies.

The third round of the Exploration Empowerment Program offers a comprehensive support package targeting exploration companies and mineral prospecting license holders.

The initiative aims to lower investment risks for projects and support a faster transition from prospecting to development.

"The program provides coverage of up to 70 percent of the total salaries of Saudi technical staff, such as geologists, during the first two years, increasing to 100 percent thereafter, in line with program requirements.

This support aims to develop talent, build national capabilities in mineral exploration, promote job localization, and facilitate the transfer of geological knowledge.

The application for the third round opened on Jan. 14, allowing participants to benefit from the Kingdom’s attractive investment environment, its stable legal framework, and streamlined regulatory structures, as well as integrated infrastructure that supports the transition from mineral resources to operational mines.

The ministry has set the timeline for the third round, with the application period running from Jan. 14 to March 31.

This will be followed by the evaluation, approval, and signing of agreements from April 1 to May 31, with the eligible projects set to be announced between June 1 and July 31 of the same year.

The program stages include submitting exploration data during the reimbursement and payment phase from Sept. 1 to Nov. 30, followed by technical and financial verification of work programs and approval of the disbursement of support funds in January 2027.

The exploration data will then be published on the National Geological Database in April 2027.

The ministry emphasized that the EEP focuses on supporting the exploration of strategically important minerals with national priority. It also contributes to enhancing geological knowledge by providing up-to-date data that meets international standards, helping investors make informed decisions and supporting the growth of national companies and local supply chains.

The ministry urged companies to apply early to benefit from the program’s third round, which coincided with the fifth edition of the International Mining Conference, which was held from Jan. 13 to 15.