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Aker ASA: Cognite and Aramco complete the establishment of the announced joint venture in Saudi Arabia

Jun 19, 2022, 5:00 PM

Reference is made to the announcement on 21 December 2020 regarding the entering into of a joint venture (“JV”) agreement between Cognite AS (“Cognite”), a global industrial software company and majority-owned subsidiary of Aker ASA ("Aker"), and Saudi Aramco Development Company (”Aramco”), a subsidiary of The Saudi Arabian Oil Company, to establish a JV focusing on industrial digitalization and sustainability initiatives in the Kingdom of Saudi Arabia and in the region. The completion of the agreement has now taken place and the JV has been established.

Aramco and Cognite will hold 51 per cent and 49 per cent ownership in the JV, respectively.

-ENDS-

For more information, please contact:

Investors:
Joachim Bjørni, Head of Investor Relations, Aker ASA
Tel: +47 924 22 106
E-mail:
joachim.bjorni@akerasa.com

Media:
Atle Kigen, Head of Media Relations and Public Affairs, Aker ASA
Tel: +47 907 84 878
Email:
atle.kigen@akerasa.com

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