Al Shawamikh Oil Services Company, one of the local 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 usage 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 into enhancing the work system and cooperation in developing sustainable energy solutions.
Dr Aflah bin Said Al Hadhrami said, “Blockchain or the digital blockchains are the new digital revolution that may 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 possibilities of the fourth industrial revolution to develop sustainable energy solutions and to meet the aspirations and objectives of Oman’s vision 2040 in its renewable renaissance.”
He pointed out that blockchain technology contributes to finding smart solutions to develop performance, increase efficiency, and reduce the time and effort required to provide the service while maintaining the highest standards of quality and effectiveness through the use of smart and unconventional patterns.
From his side, Dr Ammar Al-Obaidani, CEO of Frontech, said, Frontech was established to achieve national goals by providing high-level technical solutions to leading technologies. The company works on implementing many projects and initiatives with various sectors, whether from the governmental or private sectors. This partnership with Al Shawamikh Oil Services Company will accomplish one of those goals through the National Blockchain Network, as it provides a points system on blockchain technology for its partners and clients.
Based on the agreement, Frontech will develop a system for generating points of specific and recognized value using blockchain technology to represent the units produced in sustainable energy networks, to effectively manage the units of energy produced, and the ability to use them in different ways. In implementing 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 fields of sustainable energy. While Frontech is a leading provider of integrated, customized solutions and systems empowered with Blockchain using the latest technologies to develop various systems and platforms in Oman and around the world safely and sustainably.