Energy and chemicals giant, Aramco, is developing a purpose-built facility to support innovators and entrepreneurs within Saudi Arabia.
LAB7, which is named after Aramco’s first commercial oil well, Dammam Well Number 7, will support entrepreneurs to develop the technical skills and the equipment needed to turn ideas into successful endeavours. Innovation characterises the human race, and innovation will continue to feature heavily in how we shape our future.
The LAB7 facility, in Dhahran, Saudi Arabia, is designed to offer technical and manufacturing support to novel projects. LAB7 will also offer business development to help commercialise the opportunities.
LAB7 is expected to be complete and ready to use in October 2021, and will house dedicated workshops, open 24 hours a day. The facility should be capable of accommodating up to 300 innovators or entrepreneurs.
“As we enter a new era of innovation, Aramco is seeking to promote prosperity, nurture potential and encourage the adoption of latest technologies – both inside the company and across the Saudi landscape, LAB7 will help advance technology development, which will in turn provide benefits through increased operational efficiencies, improved productivity and sustainability enhancements.” Said Ahmad A. Al Sa’adi, Aramco Senior VP Technical Services.
LAB7’s mission is to address the major issues that world currently faces, so for a project to be accepted fully-funded within the programme, it must be seeking to advance manufacturing, energy and sustainability, or digital transformation. The facility can still be used, however, for projects that aren’t a direct fit for those three tenets, but will have to self-fund.
Crucially, Aramco’s staff will be available to lend their technical expertise to the innovators and entrepreneurs, where they need skills or tools for their development.