Abu Dhabi to develop AI solutions for energy industry

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