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MarketScreener Homepage  >  Equities  >  Saudi Arabian Stock Exchange  >  Saudi Telecom Company    7010   SA0007879543

SAUDI TELECOM COMPANY

(7010)
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Saudi Telecom : Aramco and stc unveil Dammam 7 Supercomputer Dammam 7 will be among the world's top 10 supercomputers

01/20/2021 | 06:06am EDT

Jan 19, 2021

Aramco and stc unveil Dammam 7 Supercomputer Dammam 7 will be among the world's top 10 supercomputers

Aramco and stc announced today the launch of Dammam 7, a new supercomputer among the top ten most powerful in the world. The supercomputer presents new opportunities in both exploration and development and enhances Aramco's decision-making on exploration and investment decisions. This is the next step in Aramco's digital transformation, complementing a suite of advanced technologies that are reshaping core operations, driving efficiencies and reinforcing its industry leadership in geoscience.
Developed at Dhahran Techno Valley in partnership with Solutions, a subsidiary of stc Group, and CRAY, a Hewlett Packard Enterprise subsidiary, Dammam 7 has 55.4 petaflops of peak computing power, allowing it to process and image the world's largest geophysical datasets.
The Dammam 7 supercomputer, named after the first oil well discovered in Saudi Arabia, will push beyond the traditional boundaries of exploration and production through cutting edge technology. Sophisticated imaging and deep-learning algorithms will allow it to run very detailed 3D earth models, improving the Company's ability to discover and recover oil and gas while reducing exploration and development risks. It will further enhance decision-making for exploration and development of conventional and unconventional hydrocarbon resources, as well as guide future investments in production and resource allocation.
Aramco President & CEO, Amin H. Nasser, said: 'The Dammam 7 supercomputer is named after the first commercial oil well discovered in 1938. It will help us with breakthroughs as part of our long term 'Discovery and Recovery' strategy in our Upstream business. This technology that processes complex data faster will enable new discoveries and enhanced recoveries, which are crucial to both ensuring the availability of adequate supply to meet the demand for energy and to cut costs while boosting productivity. Continuous investment in innovative technology is an essential enabler of our Company's long-term growth strategy, and Dammam 7 is another step in our plan to invest in the right technology that drives production efficiency and resilience.'
stc Group CEO, Nasser S. Al-Nasser, said: 'The inauguration of the supercomputer data center in Aramco will open up new horizons in exploration, which will have a significant impact on data digitization and quality. These are in line with the digital transformation plans of the desired national outlook, and we are proud to have worked with locals to establish Dammam 7 Center.'

Disclaimer

Saudi Telecom Company SJSC published this content on 19 January 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 20 January 2021 11:05:02 UTC


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Sales 2021 60 988 M 16 263 M 16 263 M
Net income 2021 11 325 M 3 020 M 3 020 M
Net Debt 2021 4 035 M 1 076 M 1 076 M
P/E ratio 2021 21,3x
Yield 2021 3,53%
Capitalization 242 B 64 432 M 64 434 M
EV / Sales 2021 4,03x
EV / Sales 2022 3,88x
Nbr of Employees -
Free-Float 29,8%
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Mean consensus HOLD
Number of Analysts 14
Average target price 110,38 SAR
Last Close Price 121,00 SAR
Spread / Highest target 10,5%
Spread / Average Target -8,77%
Spread / Lowest Target -21,5%
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Managers and Directors
NameTitle
Olayan Mohammed Al-Wetaid Chief Executive Officer
Ameen Fahad ben Abdulaziz Al-Shiddi Chief Financial Officer
Mohammed Khaled Al-Abdullah Al-Faisal Chairman
Haithem Mohammed Al-Faraj Senior VP-Technology & Operations
Ibraheem Abdul Rahman Hamd Al-Qadi Independent Director
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