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Saudi Aramco, Cognite Join Forces in New Data Venture

Saudi Aramco, Cognite Join Forces in New Data Venture
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Saudi Aramco, Cognite Join Forces in New Data Venture

Saudi Aramco, Cognite Join Forces in New Data Venture

Saudi Aramco and Cognite have launched CNTXT, a joint venture based in Riyadh to support industrial digitalization of the Kingdom and the wider MENA region.

CNTXT will provide digital transformation services enabled by advanced cloud solutions and leading industrial software. These solutions and services aim to help public and private sector companies to future-proof their data infrastructure, increase revenue, cut costs and reduce risks while enhancing operational sustainability and security.

CNTXT is Google Cloud’s reseller for cloud solutions in the Kingdom and the exclusive reseller of Cognite Data Fusion in MENA region.

Additionally, Google Cloud is expected to launch a “Center of Excellence” later this year to provide training to developers and business leaders in how to use cloud technologies.

Led by Abdullah Jarwan, appointed CEO of CNTXT, and a management team of local and international talent, CNTXT plans to significantly grow the team this year in hopes to become the top tech employer in the Kingdom.

The launch of CNTXT is a major milestone in the collaboration between Aramco and Aker ASA, the majority owner of Cognite. The partnership began in 2019, with the signing of a Memorandum of Understanding (MoU) to develop synergies and share knowledge on industrial digitalization and sustainability initiatives.

“CNTXT brings together industrial legacy, advanced technology, and a truly talented team that will aid in the digitalization of public and private sectors in the Kingdom. CNTXT aims to be an important catalyst of digitalization of the Kingdom,” said Ahmad A. Al-Sa'adi, Aramco Senior Vice President, Technical Services.

President of Aker ASA and Chair of the Cognite Board of Directors Oyvind 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.”

“The untapped potential in the digital transformation of the Kingdom of Saudi Arabia and the greater Middle East is enormous. With Google Cloud and Cognite offerings in our portfolio, we can help the public and private sectors innovate faster, scale AI-driven solutions, and turn data into value,” said Abdullah Jarwan, CEO of CNTXT.

“Businesses all around the world turn to Google Cloud to enable growth and help them solve their most business-critical challenges. With CNTXT as Google Cloud’s reseller in the Kingdom, we will be leveraging the latest technologies and decades of expertise to help businesses grow and develop safely and securely,” said AbdulRahman Al Thehaiban, Managing Director, Middle East, Turkey and Africa, Google Cloud.

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Saudi Arabia’s Non-Oil Industrial Sector Grows 5.3% in 2024

Saudi flags along a street in the capital, Riyadh (Reuters) 
Saudi flags along a street in the capital, Riyadh (Reuters) 
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Saudi Arabia’s Non-Oil Industrial Sector Grows 5.3% in 2024

Saudi flags along a street in the capital, Riyadh (Reuters) 
Saudi flags along a street in the capital, Riyadh (Reuters) 

Saudi Arabia’s non-oil industrial sector recorded a strong 5.3% growth in 2024, underlining the Kingdom’s ongoing progress in diversifying its economy in line with the Vision 2030 agenda. The latest figures from the General Authority for Statistics (GASTAT) reveal that this growth was largely driven by manufacturing, utilities, and infrastructure development.

Despite the robust performance of the non-oil sector, overall industrial production declined by 2.3% compared to 2023. This contraction was mainly due to a 5.2% drop in oil-related activities, following the Kingdom’s adherence to OPEC+ oil production cuts. As a result, mining and quarrying shrunk by 6.8%.

Manufacturing expanded by 4.7% year-on-year, with food production up 6.2% and chemical manufacturing, including refined petroleum products, rising by 2.8%. These gains reflect increasing industrial capacity and rising demand in both domestic and export markets.

Other areas of growth included utilities and public services. Electricity, gas, steam, and air conditioning activities grew by 3.5%, while water supply, sewage, and waste management services posted a 1.6% increase.

Minister of Economy and Planning Faisal Alibrahim recently stated that non-oil activities now account for 53% of the Kingdom’s real GDP, compared to significantly lower levels before the launch of Vision 2030. He also noted a 70% increase in private investment in non-oil sectors over the same period.

The Kingdom’s non-oil exports reached SAR 515 billion (approximately $137 billion) in 2024, marking a 13% rise over 2023 and a 113% increase since 2016. Export growth spanned petrochemical and non-petrochemical products, with merchandise exports alone totaling SAR 217 billion.

According to a recent World Bank report, Saudi Arabia’s economy grew by 1.8% in 2024, up from 0.3% in 2023. While oil-sector output fell 3%, the non-oil economy expanded by 3.7%, cushioning the broader economy from energy market volatility. The World Bank forecasts continued growth, projecting a 2.8% increase in 2025 and an average of 4.6% annually through 2026 and 2027.