By: ICN Bureau
Last updated : November 19, 2021 10:25 am
Initial project work will focus on developing AI solutions, analyzing drilling data and identifying opportunities for improved drilling trajectories and programs for ADNOC, utilizing existing Baker Hughes digital products
AIQ, the Abu Dhabi National Oil Company’s (ADNOC) artificial intelligence (AI) joint venture with Group 42 (G42), and Baker Hughes, an energy technology company, has announced a strategic collaboration agreement to develop advanced analytics solutions for the global oil and gas industry.
The announcement was made at the Abu Dhabi International Petroleum Exhibition & Conference (ADIPEC) and will see AIQ and Baker Hughes collaborate on the development and commercialization of AI products for improved efficiency of upstream oil and gas operations.
With drilling being a capital-intensive process, the initial project work will focus on developing AI solutions, analyzing drilling data and identifying opportunities for improved drilling trajectories and programs for ADNOC, utilizing existing Baker Hughes digital products.
The project supports ADNOC’s plans to efficiently ramp up drilling activities as it boosts its crude production capacity to 5 million barrels per day by 2030 and enables gas self-sufficiency for the United Arab Emirates (UAE).
Omar Al Marzooqi, CEO, AIQ said, “AI plays an instrumental role in enabling smarter, more efficient and sustainable growth for energy producers such as ADNOC as well as the wider oil and gas industry, and AIQ is focused on accelerating the development of new AI solutions that can unlock greater value for the industry as the energy transition unfolds. Baker Hughes is a long-term strategic partner of ADNOC and we are excited to work with them to unlock new opportunities to further advance our strategic objectives.”
The collaboration will combine the diverse digital expertise and technology portfolio of Baker Hughes with the data science proficiency of AIQ.
Maria Claudia Borras, Executive Vice President - Oilfield Services, Baker Hughes said, “We are pleased that our agreement with AIQ not only builds on our longstanding partnership with ADNOC and ADNOC Drilling, but it also provides us with the opportunity to develop, deploy, and commercialize solutions to transform core oil and gas operations for a better energy future.”
The collaboration agreement brings together Baker Hughes’ digital and technological experts with AIQ’s world-class data scientists, AI experts and software developers. Together they will work on the development, deployment, and commercialization of AI products to customers in the oil and gas industry.