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    2222   SA14TG012N13

SAUDI ARABIAN OIL COMPANY

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Saudi Arabian Oil : AVEVA and IMI Extend their Collaboration with new Partnership to Accelerate Maritime Sector Digital Transformation in the Middle East and Africa

06/02/2021 | 09:07am EDT

Two Organizations to Collaborate on Innovation of New Technologies, Sustainable Digital Solutions and Services for The Maritime Industry.

AVEVA, a global leader in industrial software, driving digital transformation and sustainability, and International Maritime Industries (IMI), today announced that they have extended their existing long-term collaboration with a new strategic partnership.

The partnership will further advance IMI's engineering solutions to include production and manufacturing processes, developing best-in-class products and services for the maritime sector in the Middle East and Africa (MEA). The new a joint venture involves Saudi Aramco, Lamprell Plc, Bahri and Hyundai Heavy Industries and spans a 10-year period, to optimize digitalization across the maritime lifecycle utilizing AVEVA Unified Engineering and AVEVA Digital Ship and Shipyard Operations.

Set to be fully operational by 2023, IMI is driving an accelerated and advanced digital program to ensure it is able to commence yard operations using the most advanced technology innovations. This will help IMI to deliver agile and efficient newbuild project execution, a connected, digitally-enabled workforce to ensure safe and effective ship production, and a smart connected shipyard to continuously optimize the operational efficiency of its facility. The partnership will see all parties collaborating on enhancing digital transformation for IMI's core business processes and facilities. AVEVA and IMI will also join forces to power futuristic developments and co-innovation of new technologies, including digital solutions and services for the maritime industry.

Fathi K. Al-Saleem, CEO at IMI, said: 'The maritime industry is increasingly prioritizing and integrating the digitalization and automation of operations. IMI will offer a range of technologically advanced, high-quality sustainable products and innovative lifecycle management services for customers at internationally competitive prices. As the largest full-service yard in the MENA region, IMI will help shape the maritime industry as a global leader and disruptor in applying digital solutions to manage, monitor and operate our innovative smart yard.'

AVEVA is helping maritime sector organizations globally to transform their shipbuilding, utilizing its end-to-end solutions. Increasingly, organizations are examining energy-efficient digital transformation technologies as they focus on automating processes, optimizing operations, and enhancing efficiencies for a sustainable future. With AVEVA's broad software portfolio addressing all aspects of design, engineering and operation, IMI is now well positioned to realize its digital goals.

Peter Herweck, CEO, AVEVA, commented: 'AVEVA has a comprehensive portfolio of cutting-edge solutions for large-scale digital transformational projects for the maritime industry. We provide an integrated, data- management platform that spans IMI's core business processes. We are also committed to being a strong partner for co-innovating on transformational technologies and services. We aim to play a key role in delivering data solutions for IMI, enabling them to offer smart digital products to customers. Using insights from advanced AI-infused analytics will enable IMI to continuously optimize its operational agility and engineering efficiency. We look forward to further building this partnership and taking it to new heights over the coming years.'

About IMI

Located at Ras Al-Khair on Saudi Arabia's eastern seaboard, International Maritime Industries (IMI) will be the MENA region's largest maritime facility, offering a globally unique product range. IMI aspires to be a world-leading 'Shipyard of the Future', an advanced and sustainable maritime hub providing ship and rig companies with state-of-the-art infrastructure, products, and high-quality solutions. IMI is a Saudi Aramco sponsored joint venture (JV) with partners Hyundai Global Services, Bahri and Lamprell. Find out more: www.imi-ksa.com

About AVEVA

AVEVA is a global leader in industrial software, driving digital transformation and sustainability. By connecting the power of information and artificial intelligence with human insight, AVEVA enables teams to use their data to unlock new value. We call this Performance Intelligence. AVEVA's comprehensive portfolio enables more than 20,000 industrial enterprises to engineer smarter, operate better and drive sustainable efficiency. AVEVA supports customers through a trusted ecosystem that includes 5,500 partners and 5,700 certified developers around the world. The company is headquartered in Cambridge, UK, with over 6,500 employees and 90 offices in over 40 countries. Learn more at www.aveva.com.

Copyright 2021 AVEVA Solutions Limited. All rights reserved. AVEVA Solutions Limited is owned by AVEVA Group plc. AVEVA, the AVEVA logos and AVEVA product names are trademarks or registered trademarks of AVEVA Group plc or its subsidiaries in the United Kingdom and other countries. Other brands and product- names are the trademarks of their respective companies.

Enquiries:

AVEVA Media Contacts

Rose Bambi

Senior Director Global PR and External Communications

Tel: +44 (0) 208 323 2789

rose.bambi@aveva.com

Caroline Stephens

Senior Global PR Manager

caroline.stephens@aveva.com

Catherine Singh

Global PR/Social Media Coordinator

catherine.singh@aveva.com

External Communications Alias

external.communications@aveva.com

(C) 2021 Electronic News Publishing, source ENP Newswire

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Financials
Sales 2021 1 352 B 360 B 360 B
Net income 2021 367 B 97 905 M 97 905 M
Net Debt 2021 245 B 65 224 M 65 224 M
P/E ratio 2021 19,0x
Yield 2021 4,04%
Capitalization 6 986 B 1 862 B 1 863 B
EV / Sales 2021 5,35x
EV / Sales 2022 4,91x
Nbr of Employees 79 000
Free-Float 1,76%
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Saudi Arabian Oil Company Technical Analysis Chart | 2222 | SA14TG012N13 | MarketScreener
Technical analysis trends SAUDI ARABIAN OIL COMPANY
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Income Statement Evolution
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Mean consensus HOLD
Number of Analysts 17
Last Close Price 34,95 SAR
Average target price 35,21 SAR
Spread / Average Target 0,75%
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Managers and Directors
Amin bin Hasan Al-Nasser President, CEO & Executive Director
Khalid Hashim Al-Dabbagh Director, SVP-Finance, Strategy & Development
Yasir bin Othman Al-Rumayyan Chairman
Ahmad Abdul Rahman Al-Sa'adi Senior Vice President-Technical Services
Ziad Thamer Al-Murshed Vice President-International Operations
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