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Aramco Signs Agreement with Pasqal to Deploy 1st Quantum Computer in Saudi Arabia

As per the agreement, Pasqal will install, maintain, and operate a 200-qubit quantum computer, which is scheduled for deployment in the second half of 2025. SPA
As per the agreement, Pasqal will install, maintain, and operate a 200-qubit quantum computer, which is scheduled for deployment in the second half of 2025. SPA
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Aramco Signs Agreement with Pasqal to Deploy 1st Quantum Computer in Saudi Arabia

As per the agreement, Pasqal will install, maintain, and operate a 200-qubit quantum computer, which is scheduled for deployment in the second half of 2025. SPA
As per the agreement, Pasqal will install, maintain, and operate a 200-qubit quantum computer, which is scheduled for deployment in the second half of 2025. SPA

Saudi Aramco announced on Monday that it has signed an agreement with Pasqal, a global leader in neutral atom quantum computing, to install the first quantum computer in the Kingdom.
As per the agreement, Pasqal will install, maintain, and operate a 200-qubit quantum computer, which is scheduled for deployment in the second half of 2025.
According to the statement, the quantum computer will initially use the "analog mode" approach. Within the following year, the system will be upgraded to the more advanced hybrid "analog-digital mode", which is more powerful and able to solve even more complex problems.

"Aramco is delighted to partner with Pasqal to bring cutting-edge, high-performance quantum computing capabilities to the Kingdom. In a rapidly evolving digital landscape, we believe it is crucial to seize opportunities presented by new, impactful technologies and we aim to pioneer the use of quantum computing in the energy sector,” said Aramco Executive Vice President of Technology and Innovation Ahmad Al-Khowaiter.

Pasqal CEO and Co-founder Georges-Olivier Reymond said that the era of quantum computing is no longer "confined to theory, it is transitioning to real-world applications, empowering organizations to solve previously intractable problems at scale.”

Through this agreement, he added, the commercial adoption of this transformative technology in Saudi Arabia will be accelerated.

According to the statement, Pasqal and Aramco intend to leverage the quantum computer to identify new use cases, and have the ambitious vision of establishing a powerhouse for quantum research in the Kingdom. This would involve leading academic institutions with the aim of fostering breakthroughs in quantum algorithm development — a crucial step for unlocking the true potential of quantum computing.

The agreement also increases Pasqal's activity in Saudi Arabia; it established an office in the Kingdom in 2023, and in 2022, Aramco and Pasqal signed an MoU to collaborate on quantum computing capabilities and applications in the energy sector. In 2023, Aramco's Wa'ed Ventures also participated in Pasqal's Series B fundraising round, said the statement.

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Business

Al-Moammar Receives First Work Order Under HUMAIN Agreement, Worth More Than 148% of 2025 Revenue

A sign identifying Al-Moammar Information Systems Company in Riyadh (company website).
A sign identifying Al-Moammar Information Systems Company in Riyadh (company website).
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Al-Moammar Receives First Work Order Under HUMAIN Agreement, Worth More Than 148% of 2025 Revenue

A sign identifying Al-Moammar Information Systems Company in Riyadh (company website).
A sign identifying Al-Moammar Information Systems Company in Riyadh (company website).

Al-Moammar Information Systems Company (MIS) has received its first work order under its agreement with HUMAIN, with a total value exceeding 148 percent of the company's total revenue for 2025, including value-added tax.

In a statement on Saudi Exchange on Sunday, the company said Work Order No. 1, received on October 1, covers the scope of work related to a capacity of 50 megawatts. This was the scope previously announced as part of a project to design and build data centers dedicated to artificial intelligence technologies.

The company said the financial impact of the work order began in the second quarter of fiscal year 2026.

The work order was received under an agreement signed by Al-Moammar Information Systems with HUMAIN last September, with a value exceeding 689 percent of the company's total revenue for 2025, including value-added tax. The agreement includes an expansion of the project's scope from 50 megawatts to 250 megawatts.

When the agreement was announced, the company said the engineering, procurement, and construction works would be carried out through work orders issued by HUMAIN in accordance with the terms of the agreement. The company would announce each work order upon receipt, including its value, implementation period, and financial impact.

Al-Moammar Information Systems expects to receive additional work orders related to the further expansion of the project in the coming period and will announce any material developments in this regard when they occur.

Business

OPEC+ Agrees to Keep November Oil Output Targets Steady

FILE PHOTO: A view shows the logo of the Organization of the Petroleum Exporting Countries (OPEC) outside its headquarters in Vienna, Austria, May 28 , 2024. REUTERS/Leonhard Foeger/File Photo
FILE PHOTO: A view shows the logo of the Organization of the Petroleum Exporting Countries (OPEC) outside its headquarters in Vienna, Austria, May 28 , 2024. REUTERS/Leonhard Foeger/File Photo
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OPEC+ Agrees to Keep November Oil Output Targets Steady

FILE PHOTO: A view shows the logo of the Organization of the Petroleum Exporting Countries (OPEC) outside its headquarters in Vienna, Austria, May 28 , 2024. REUTERS/Leonhard Foeger/File Photo
FILE PHOTO: A view shows the logo of the Organization of the Petroleum Exporting Countries (OPEC) outside its headquarters in Vienna, Austria, May 28 , 2024. REUTERS/Leonhard Foeger/File Photo

OPEC+ agreed to keep oil production targets steady for November at a meeting on Sunday, the producer group said, in line with expectations that further output policy adjustments are unlikely until next year.

Seven core members of the group comprising the Organization of the Petroleum Exporting Countries and allies including Russia made the decision for November in a brief online meeting on Sunday. The core members are Saudi Arabia, Russia, Iraq, Kuwait, Algeria, Kazakhstan and Oman.

Oil prices had dropped on Friday after European leaders agreed to US President Donald Trump's request to release diesel reserves. Even so, Brent crude remains above $100 a barrel, up from about $73 before the Iran war started in late February.

The Iran war has also delayed the group's output capacity review — crucial to determine members’ 2027 output quotas — because it has thrown estimates of future production potential into uncertainty, industry sources told Reuters last week.

OPEC+ has been raising output targets for much of 2026 after years of production cuts, but most of the increases stayed on paper because of the Middle East conflict.

The seven core OPEC+ members pumped 25 million barrels per day in August, up 630,000 bpd from July, yet still roughly 5 million bpd below prewar levels in February, OPEC data shows.

The seven hold their next meeting on November 1.

OPEC+ still has about 2 million bpd of output cuts in place covering most members. It needs the result of the capacity review to decide how to distribute increases and any changes to output are unlikely before 2027, sources have said.

A separate OPEC+ ministerial group called the Joint Ministerial Monitoring Committee (JMMC), which does not decide policy, also met on Sunday to review the market.

Business

Saudi Arabia Announces Results of Natural Gas Distribution Licensing Competition in Al-Kharj

A worker at one of Saudi Aramco's gas facilities.
A worker at one of Saudi Aramco's gas facilities.
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Saudi Arabia Announces Results of Natural Gas Distribution Licensing Competition in Al-Kharj

A worker at one of Saudi Aramco's gas facilities.
A worker at one of Saudi Aramco's gas facilities.

The Ministry of Energy today announced the results of a competition for a license to establish, own, and operate a natural gas distribution network in the industrial city of Al-Kharj in central Saudi Arabia.

The ministry had previously invited interested investors to participate in the competition to obtain the license and completed the procedures for qualifying bidders, launching the competition, and evaluating the bids.

As part of the competition, Natural Gas Distribution Company was awarded a license to establish, own, and operate the distribution network in the industrial city of Al-Kharj.

The competition will contribute to the objectives of the Liquid Fuel Displacement Program and the replacement of liquid fuels with natural gas, with the aim of maximizing the economic, environmental, and social benefits that the Kingdom derives from its petroleum resources as part of Vision 2030.

The launch of the competition is part of the ministry's efforts to strengthen the natural gas sector's infrastructure and stimulate investment in the sector by creating an attractive competitive environment that enables beneficiaries to access natural gas and improves the quality of services provided.