Saudi Aramco & Raytheon to form cy­ber­se­cu­rity JV

The joint ven­ture com­pany will pro­vide de­fen­sive cy­ber­se­cu­rity soft­ware

Oil & Gas Middle East - - PRODUCTS & SERVICES -

DIG­I­TAL Saudi Aramco and Raytheon Com­pany, through its sub­sidiary Raytheon Saudi Ara­bia, signed a me­moran­dum of un­der­stand­ing to estab­lish a joint ven­ture com­pany that will de­velop and pro­vide cy­ber­se­cu­rity ser­vices in Saudi Ara­bia and the re­gion. The joint ven­ture com­pany will mar­ket and pro­vide in­te­grated de­fen­sive cy­ber­se­cu­rity soft­ware and hard­ware ca­pa­bil­i­ties, and per­form re­search and devel­op­ment ac­tiv­i­ties.

The JV will in­crease the cy­ber­se­cu­rity pro­tec­tions avail­able to Saudi Aramco, its sup­pli­ers, cus­tomers and af­fil­i­ates. It will also help build cy­ber ca­pa­bil­i­ties in Saudi Ara­bia and the re­gion, which .

“We are ex­cited about the joint ven­ture, which will sup­port the King­dom’s Vi­sion 2030 by cre­at­ing highly skilled jobs for Saudis in the cy­ber­se­cu­rity sec­tor and will sup­port the foun­da­tion for Saudi Ara­bia’s eco­nomic devel­op­ment,” said Saudi Aramco Se­nior Vice Pres­i­dent of Fi­nance, Strat­egy & Devel­op­ment Khalid H. Al-dab­bagh.

“De­mand for cy­ber­se­cu­rity ser­vices is ex­pected to grow as com­pa­nies move fur­ther into the dig­i­tal space and em­brace tech­nolo­gies such as In­ter­net of Things and big data,” he added. “The part­ner­ship with Raytheon will help strengthen cy­ber­se­cu­rity and en­hance its in­fra­struc­ture in Saudi Ara­bia and the broader re­gion.”

This fol­lows last week’s cy­ber­at­tack on Saipem, which pro­vides EPC ser­vices on some Saudi Aramco projects. No data was stolen in the attack. The oil and gas in­dus­try is one of the most vul­ner­a­ble to cy­ber­at­tacks, ac­cord­ing to sev­eral stud­ies.

“Cy­ber­se­cu­rity is crit­i­cal to na­tional and global se­cu­rity,” said Dave Wa­js­gras, pres­i­dent of Raytheon In­tel­li­gence, In­for­ma­tion and Ser­vices. “This MOU is an im­por­tant step in cre­at­ing a joint ven­ture that we see be­com­ing the cor­ner­stone of cy­ber­se­cu­rity de­fenses in the re­gion.”

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