- New company will distribute advanced solutions across sectors
- Joint venture to serve business customers in Saudi Arabia and the MENA region
Aramco and Cognite will establish a new company that will focus on digitalization in Saudi Arabia and the broader Middle East and North Africa region. The JV will develop, distribute and deploy end-to-end digital and advanced solutions for customers across industries, including oil and gas, power and utilities, manufacturing and shipping.
The solutions will enable the digital transformation of companies through production and yield optimization, predictive maintenance, workforce digitalization, advanced safety measures and a reduced environmental footprint of industrial operations. The JV will leverage Cognite's flagship industrial data platform, Cognite Data Fusion, as its core technology and will harness state-of-the-art cloud capabilities for data hosting, analytics and artificial intelligence.
Aramco and Cognite expect the JV to be operational in 2021, following receipt of all required regulatory clearances.