DHAHRAN, Saudi Arabia – Saudi Aramco and Cognite have agreed to form a new company specializing in digitalization in Saudi Arabia and the Middle East and North Africa region.
The joint venture will develop and deploy digital solutions for various industries, including oil and gas, power, and shipping.
According to Aramco, the goals are to enable the digital transformation of companies in these sectors through optimized production, predictive maintenance, workforce digitalization, advanced safety measures and reduced environmental footprint of industrial operations.
The JV will use Cognite’s industrial data platform, Cognite Data Fusion and cloud capabilities for data hosting, analytics and artificial intelligence. It should become operational next year, following regulatory approvals.
Saudi Aramco Development Co. has teamed with Google Cloud to offer cloud services in Saudi Arabia.
Google Cloud will establish and operate a new cloud region in Saudi Arabia, with a new company formed to supply cloud solutions and services.
Demand for cloud services in Saudi Arabia is forecast to reach up to $10 billion by 2030. Increased dependence on online services during the COVID-19 restrictions pandemic has further accelerated the shift toward digital solutions, Aramco added.