In an exclusive interview with Telecom Review, Omar Qaise, CEO, OQ Technology, talks about the company’s NB-IoT and SATCOMM solutions and how it’s shaping industrial digital transformation.
Please tell us about OQ Technology’s core business model and its target customers and market.
OQ Technology is a low-earth orbit satellite operator, which was established in 2016 in Luxembourg. It is the world's first 5G NB-IoT satellite operator, offering IoT and machine-to-machine (M2M) SATCOM solutions. We cater to different industries, mainly sectors such as energy, logistics, maritime, mining, agriculture, government and defense on a global level. Our business model is comprised of four parts: the first is direct to enterprise or indirect using service providers, and also through partnerships with mobile operators as well as equipment manufacturers.
Aramco is one of the largest companies in the world by revenue and profit margins. How has OQ Technology contributed to such remarkable achievements as a strategic partner over the years through continuous collaboration?
The collaboration between OQ Technology and Saudi Aramco is crucial for achieving the strategic objectives of satellite IoT connectivity. OQ Technology enables oil and gas companies to monitor data and communication in remote areas where there is limited internet access. We achieve this by implementing advanced monitoring systems via satellite, enabling real-time communication and data transfer and ensuring that these companies can have a faster response to address emergencies and other issues in challenging environments. Overall, the collaboration between OQ Technology and Saudi Aramco has been very beneficial for both parties. OQ Technology’s NB-IoT and satellite connectivity cater to Aramco’s specific needs, while Saudi Aramco’s extensive infrastructure and knowledge in the energy sector offer OQ Technology a lot of insights and opportunities in this field. This is a win-win partnership, and it helps both companies achieve their objectives in their pursuit of innovation and excellence.
The newly signed MoU aims to provide automation and Satellite IoT connectivity for Aramco's remote site infrastructures. Please elaborate on this. How is this a game-changer in industrial digital transformation?
We are thrilled to announce the signing of a new MoU with Saudi Aramco, which will contribute to our already existing collaboration. The new MoU will leverage OQ Technology’s innovative satellite and 5G NB-IoT connectivity services to connect Saudi Aramco’s Intelligent Integrated Node (IIN) technology, which is an automation infrastructure solution that was invented by Saudi Aramco. It's used for instrumentation control, monitoring and edge computing capabilities in a single fault-tolerant device and has won multiple awards as well. The importance of the MoU lies in the fact that there will be complementarity between OQ Technology’s satellite and 5G NB-IoT solutions and Saudi Aramco’s IIN technology, and this will enable great possibilities. It will boost: the development of many IoT applications; personnel products; operational safety in factories; upstream and downstream sites; security and surveillance as well as fire protection; automotive; healthcare; intelligent defense applications; and many other applications, not only in Saudi Arabia but globally. Integrating 5G NB-IoT and IIN technologies will increase operational efficiencies, reduce raw material consumption and minimize the visit times of personnel to remote sites. This will also contribute to a greener economy, which is one of the primary objectives of the Saudi Arabia Vision of 2030.
Please tell us about OQ Technology's upcoming projects, growth opportunities and challenges in the current global market environment.
OQ Technology is a young company with a lot of expertise and patented technologies in the field of 5G NB-IoT, which is done through 3GPP standards. Also, the commercialization rollout of NB-IoT over satellite and the satellite 5G IoT market is booming. It is expected to reach about $18 billion by 2031, and OQ Technology is fast becoming the Satellite 5G and NB-IoT operator of choice for a lot of enterprise customers. We will soon be announcing collaborations with other big companies that find value in our satellite and NB-IoT solutions, similar to the one we had with Saudi Aramco. We are really proud of what we have achieved within a very short time. We also recently announced the launch of new satellites added to our fleet. Our target is to reach 10 satellites in orbit by the end of this year and also to continue to add satellites — to have a whole constellation that is ready for real-time communication by next year.
