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Aramco Signs Quantum Computer Agreement With Pasqal
The partnership will see Pasqal install and operate the 200-qubit device in Saudi Arabia, with a scheduled deployment in mid-2025.
Aramco, one of the world’s leading companies in the integrated energy and chemicals sector, has signed a deal with Pasqal, a global pioneer in neutral atom quantum computing, to install Saudi Arabia’s first quantum computer in the second half of 2025.
Ahmad Al-Khowaiter, Aramco EVP of Technology & Innovation, explained: “Aramco is delighted to partner with Pasqal to bring cutting-edge, high-performance quantum computing capabilities to the Kingdom. In a rapidly evolving digital landscape, we believe it is crucial to seize opportunities presented by new, impactful technologies, and we aim to pioneer the use of quantum computing in the energy sector. Our agreement with Pasqal allows us to harness the expertise of a leading player in this field as we continue to build state-of-the-art solutions into our business”.
The 200-qubit quantum computer will initially be set to a base-level analog mode. Within the following 12 months, the system will see upgrades (known as “analog-digital mode”), which will give it even greater computational power.
Pasqal and Aramco wish to leverage the quantum computer to establish a regional center for quantum research in the Kingdom of Saudi Arabia and to find new applications for the energy sector. The plans involve partnering with leading academic institutions to find breakthroughs in quantum algorithm development.
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Georges-Olivier Reymond, Pasqal CEO & Co-founder, stated: “The era of quantum computing is here. No longer confined to theory, it’s transitioning to real-world applications, empowering organizations to solve previously intractable problems at scale. Since launching Pasqal in 2019, we have directed our efforts towards concrete quantum computing algorithms immediately applicable to customer use cases. Through this agreement, we’ll be at the forefront of accelerating commercial adoption of this transformative technology in Saudi Arabia”.
The agreement forms part of Pasqal’s greater strategy and activity in Saudi Arabia after establishing an office in the Kingdom in 2023. During the same year, Aramco’s Wa’ed Ventures also participated in a Series B fundraising round for Pasqal.
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Lebanon Ministers Meet Visa Over National Digital Payment Platform
Finance and technology ministers say a comparative study and roadmap will follow before any decision on adopting a model.
Lebanon’s finance and technology ministers met representatives from Visa last week to discuss a proposed unified national digital payment platform for government services, according to a readout from the Ministry of Finance.
The meeting brought together Finance Minister Yassin Jaber, Minister of State for Technology and Artificial Intelligence Kamal Shehadeh, a Visa delegation, and experts from both ministries. Discussion focused on whether Lebanon could establish a single platform through which citizens and institutions would pay taxes, fees, fines and other official transactions electronically, using mobile phones and other digital channels.
The Visa delegation presented examples from countries that have adopted unified government payment platforms, including the United Arab Emirates, Singapore, Estonia and Jordan. According to the readout, the examples were presented as having increased collection rates and expanded financial inclusion.
Talks covered settlement mechanisms, direct transfer to the treasury account, financial reconciliation, risk management, cybersecurity, fees, and an operational model that would involve the private sector. The parties agreed to continue technical and institutional consultations, prepare a comparative study, and develop an implementation roadmap before any decision on adopting a model for Lebanon.
Jaber said the Ministry of Finance had already enabled citizens to pay using credit cards and e-wallets through transfer companies, but described the proposed platform as a further step. He framed the development of electronic payment and collection systems as a priority within the ministry’s modernization plan.
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Shehadeh outlined the citizen-facing concept as a single mobile application through which users could settle obligations to ministries, government institutions and other bodies.
“The idea, in short, is that any citizen downloads an application on their mobile phone, through which they can pay all service obligations for all ministries, government institutions, or those owned by the Lebanese state, and others as well, as the platform is not limited only to state institutions,” he said.
Shehadeh added that the platform would not displace banks and money transfer companies that currently provide collection services to the state, calling it complementary to their work.
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