(Oil Price) – Saudi oil giant Aramco expects AI and other advanced technology to have helped it achieve in 2025 a technology realized value of between $3 billion and $5 billion, chief executive Amin Nasser said on Tuesday.
The world’s biggest oil firm in both production and market capitalization had total realized technology value of $6 billion in the period 2023-2024, the executive said at the World Economic Forum in Davos, Switzerland.
Through increased use of AI and other advanced tech, Aramco realizes savings in drilling costs, well productivity, and maintenance costs.
“We want the energy industry to be more intelligent in capitalizing on AI,” Nasser told a panel at the forum, as carried by Bloomberg.
“We have the applications and the talents. The most important thing is data quality,” Aramco’s top executive said.
Aramco has a so-called digital transformation program, and is investing in AI capabilities and infrastructure.
The company says it is already using AI widely across its core business to boost efficiency, reduce production costs, and to help cut emissions at a growing number of our facilities.
In 2024 alone, Saudi Aramco recorded $1.8 billion of AI-driven Technology Realized Value (TRV). It has also identified 442 use cases for AI in its operations, with more than 200 solutions already deployed and over 100 in development as of the end of 2025.
“We have access to over 90 years of proprietary data, and every day, billions of new data points are generated to add to that. This has fueled the creation of the energy industry’s first industrial Large Language Model, which we use in our day-to-day business,” Ahmad Al-Khowaiter, Executive Vice President Technology & Innovation at Aramco, said at the 2025 Adopt AI International Summit in Paris in November.
Technology is also the reason why Aramco’s production costs remain the lowest in the world at $3.50 per barrel of oil equivalent, despite all the challenges of costs and increasing resources, Al-Khowaiter said.
By Charles Kennedy for Oilprice.com
