AIQ and Baker Hughes partner to develop advanced analytics solutions for the oil and gas
ABU DHABI, 18th November, 2021 – 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, announced today 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 commercialisation 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, analysing drilling data and identifying opportunities for improved drilling trajectories and programmes for ADNOC, utilising 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 UAE.
Omar Al Marzooqi, CEO of 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.
Maria Claudia Borras, Executive Vice President of Oilfield Services at Baker Hughes, said: “Baker Hughes remains committed to helping our customers reach their own energy transition ambitions, and digital transformation has an important role to play.
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 commercialise 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 commercialisation of AI products to customers in the oil and gas industry.
Launched in 2020, AIQ is working on a number of key AI projects across the oil and gas value chain such as drilling performance, reservoir modelling, corrosion detection, and product quality.