The JV will support industrial digitalisation in Saudi Arabia and the larger MENA region with its digital transformation services
Oil major Aramco has joined forces with Norwegian industrial software company Cognite to launch a Saudi Arabia-based joint venture (JV) called CNTXT.
The JV, which will be headquartered in Riyadh, will underpin industrial digitalisation in Saudi Arabia and the larger Middle East and Northern Africa (MENA) region.
CNTXT will be engaged in providing digital transformation services powered by advanced cloud solutions and industrial software.
Its solutions and services will help public and private sector companies to future-proof their data infrastructure, grow revenue, reduce costs, and cut down risks while improving operational sustainability and security.
Aramco technical services senior vice president Ahmad Al-Sa’adi said: “CNTXT brings together industrial legacy, unmatched technology, and a truly talented team that will aid in the digitalisation of the public and private sectors in the Kingdom. CNTXT will be an important catalyst of digitalisation of the Kingdom.”
CNTXT will be the reseller for Google Cloud’s solutions in Saudi Arabia as well as the exclusive reseller of Cognite Data Fusion, the industrial DataOps platform of Cognite, in the MENA region.
In addition to that, Google Cloud is anticipated to open a centre of excellence later this year to give training to developers and business leaders on using cloud technologies.
The launch of the CNTXT JV follows a memorandum of understanding (MoU) signed by Aramco and Norwegian industrial investment company Aker, the majority owner of Cognite in 2019.
The MoU’s objective is for the parties to build synergies and share knowledge on industrial digitalisation as well as initiatives in sustainability.
Earlier this year, Cognite secured an undisclosed investment from Aramco in exchange for a stake of 7.4% in the company.
Aker president and Cognite board of directors chair Øyvind Eriksen said: “CNTXT will be an important vehicle for driving profitability and sustainability of the Kingdom’s industries through innovative use of technology.
“I look forward to seeing the company accelerate the digital transformation of the most important sectors in the region.”