By: AGBI

Saudi Aramco has launched the country’s first quantum computer, which is intended to accelerate the development of lower-carbon fuels and enhance reservoir and supply chain operations.

The computer, located at Aramco’s data centre in Dhahran, was developed in partnership with the French quantum computing company Pasqal, the state-owned oil company said in a statement.

Pasqal has been developing high-performance hardware and cloud-ready software since 2019 to address complex challenges in simulation and artificial intelligence.

Wa’ed Ventures, Aramco’s venture capital arm, invested $108 million in Pasqal’s Series B funding round in January 2023.

Since then, Aramco and Pasqal have worked on several quantum computing projects, including port logistics, CO2 storage, well placement and rig scheduling.

The two companies have also established the Middle East’s first commercial quantum computing-as-a-service platform to support quantum applications across the energy, materials and industrial sectors.

This month, Aramco and Solutions by STC announced plans to invest $372 million (SAR 1.4 billion) to develop a high-performance supercomputer to support the oil company’s ongoing digital transformation initiatives.

The supercomputer is scheduled for delivery in early 2027.

Saudi Arabia’s government owns 81.5 percent of Aramco, and the Public Investment Fund holds 16 percent, leaving 2.5 percent available to minority investors.

Aramco’s shares closed at SAR27.78 on Monday and are up 17 percent in the year to date.