Al Shawamikh Oil Services Company, one of the community companies in the energy sector, signed a cooperation agreement with the leading technology company; Frontech, to develop a sustainable energy management system through the use of blockchain technology.
The pact signed by Dr Aflah bin Said Al Hadhrami, CEO of Al Shawamikh Oil Services and Dr Ammar bin Darwish Al Obaidani, CEO of Frontech looks at improving the working system and collaboration to develop sustainable energy solutions.
Dr Aflah bin Said Al Hadhrami said: “Blockchain or the digital blockchains is the new digital revolution that can go beyond the Internet revolution and has gained great momentum recently. The agreement between Al Shawamikh and Frontech comes to take advantage of one of the opportunities of the fourth industrial revolution to develop sustainable energy solutions and to meet the ambitions and goals of Oman’s Vision 2040 in its renewable renaissance.”
He pointed out that blockchain technology helps to find smart solutions to develop performance, increase efficiency and reduce the time and effort required to deliver the service while maintaining the highest standards of quality and efficiency through the use of smart and unconventional patterns.
On his part, Dr Ammar Al-Obaidani, CEO of Frontech, said that Frontech was established to achieve national goals by providing high-level technical solutions to leading technologies. The company works to implement many projects and initiatives with various sectors, either from the state or private sector. This partnership with Al Shawamikh Oil Services Company will achieve one of these goals through the National Blockchain Network, as it provides a point system on blockchain technology for its partners and customers.
Based on the agreement, Frontech will develop a system to generate points of specific and recognized value using blockchain technology to represent the units produced in sustainable energy networks, to effectively manage the units of produced energy, and the ability to use them in various ways. In the implementation of this agreement, both parties will also hold regular workshops to exchange knowledge and allow specialized experts from various institutions in the two sectors to exchange ideas on field studies of the system.
Al Shawamikh Oil Services is one of the trusted local community companies in the oil and gas sector within the energy market in the Sultanate of Oman, including the field of sustainable energy. While Frontech is a leading provider of integrated, customized solutions and systems authorized with blockchain using the latest technologies to develop various systems and platforms in Oman and around the world safely and sustainably.
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