Oman’s leading Super Local Community Contractor (SLCC) Al Shawamikh Oil Services (Al Shawamikh) has signed a cooperation agreement with the leading technology company Frontech in order to develop a sustainable energy management system through the usage of blockchain technology.
The company said that the deal intends to enhance the work system and cooperation in developing sustainable energy solutions.
Under 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.
“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. 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.”
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.
From his side, 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 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,” Dr. Al-Obaidani added.