Abu Dhabi National Oil Company (ADNOC) declared on Tuesday that its utilization of artificial intelligence (AI) technology led to an additional value of $500 million in 2023.
The state oil titan revealed that it had effectively incorporated more than 30 AI tools across diverse operations, ranging from field activities to corporate decision-making processes, with intentions for broader AI technology adoption.
ADNOC underscored AI’s role in transforming operational efficiency, spotlighting a program employing AI for remote monitoring of operational equipment, which curbed unexpected shutdowns and bolstered overall efficiency.
Furthermore, AI technology has played a pivotal role in resource mapping, supporting drilling and production activities, and facilitating reservoir management, which has contributed to augmented production capacity and the provision of lower carbon-intensity energy solutions.
Sophie Hildebrand, ADNOC’s Chief Technology Officer, underscored the transformative influence of AI initiatives, underscoring the enhancements in automation and process optimization across various facets of the company’s operations.
Hildebrand noted tangible benefits arising from AI implementation, encompassing improvements in capital expenditure, operational expenditure, working capital management, and production efficiency.
“The ability for us to do more and more is growing as the technology grows,” Reuters quoted Hildebrand as remarking.
While refraining from furnishing specific figures, she anticipated further growth in the value generated by AI initiatives in the future.
ADNOC’s AI endeavors are reinforced by tools developed through its joint venture with G42, recognized as AIQ.
Prominent AIQ tools leveraged by ADNOC encompass SMARTi, engineered for hazard detection in industrial environments, and Robowell, facilitating remote equipment operation and flow valve control to bolster safety, slash costs, and optimize production capacity.
The collaboration between ADNOC and G42 underscores the strategic cooperation between industry titans and technology innovators in propelling AI integration within the oil and gas sector.
G42, a prominent entity in the AI domain, is part of a business conglomerate linked with Sheikh Tahnoun bin Zayed al-Nahyan, the UAE’s national security adviser, and brother of President Sheikh Mohammed bin Zayed al-Nahyan.
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