Abu Dhabi to de­velop AI so­lu­tions for en­ergy in­dus­try

The National - News - - BUSINESS - Jen­nifer Gnana

Abu Dhabi Na­tional Oil Com­pany has signed an agree­ment with UAE ar­ti­fi­cial in­tel­li­gence com­pany Group 42 to de­velop prod­ucts for the en­ergy sec­tor.

A new com­pany un­der sep­a­rate le­gal and op­er­at­ing terms will be es­tab­lished, the com­pa­nies said.

“As we pre­pare for the op­por­tu­ni­ties and chal­lenges the Fourth In­dus­trial age will present, this joint ven­ture is a proac­tive ap­proach us­ing an in­no­va­tive part­ner­ship to cre­ate the oil and gas tech­nol­ogy so­lu­tions of to­mor­row,” said Dr Sul­tan Al Jaber, Adnoc Group chief ex­ec­u­tive.

Through the ven­ture, Adnoc will lever­age G42’s cen­tral pro­cess­ing and graph­ics pro­cess­ing units and its sci­en­tific ex­per­tise, while the tech com­pany will have ac­cess to Adnoc’s “petabytes of archival data” to help de­velop sys­tems. A petabyte is the equiv­a­lent of 1,000 ter­abytes.

Adnoc has been in­vest­ing into AI and blockchain as part of its move to­wards build­ing a leaner, more in­te­grated com­pany.

In 2017, it opened two in­no­va­tion cen­tres, Thamama and

Panorama, at its Abu Dhabi head­quar­ters. The two fa­cil­i­ties use data to re­duce costs, with the for­mer gen­er­at­ing ef­fi­ciency sav­ings of up to $1 bil­lion (Dh3.67bn) from 2017 lev­els and help­ing to re­duce drilling time by 30 per cent, Adnoc said.

The com­pany is also pi­lot­ing a blockchain-based au­to­mated sys­tem with IBM to in­te­grate oil and gas pro­duc­tion across its en­tire value chain.

Adnoc will use Group 42’s cen­tral and graph­ics pro­cess­ing units, and its sci­en­tific ex­per­tise

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