The Abu Dhabi National\nOil Company (ADNOC) has signed an agreement with Group 42 (G42), an Abu Dhabi\nbased Artificial Intelligence (AI), cloud and supercomputing company, to establish\na joint venture to develop and commercialise AI products for the oil and gas\nindustry. <\/p>\n\n\n\n
Under the terms of the\nagreement, a new company will be established as a separate legal and operating\nentity. <\/p>\n\n\n\n
The agreement was\nsigned at the Abu Dhabi International Petroleum Exhibition and Conference\n(ADIPEC) by Omar Suwaina Al Suwaidi, Director, Executive Office Directorate,\nADNOC, and Peng Xiao, CEO of G42. <\/p>\n\n\n\n
The signing of the\nagreement was witnessed by His Excellency Dr Sultan Ahmed Al Jaber, UAE\nMinister of State and ADNOC Group CEO.<\/p>\n\n\n\n
H.E. Dr Al Jaber said:\n\u201cAs we prepare for the opportunities and challenges the fourth industrial age will\npresent, this joint venture is a pro-active approach using an innovative\npartnership to create the oil and gas technology solutions of tomorrow. It\nreflects ADNOC\u2019s commitment to deploying the power of advanced technology to\nmaximise value from every molecule we produce and will strengthen Abu Dhabi and\nthe UAE\u2019s leading position at the cutting edge of AI and the global energy\nsector.\u201d <\/p>\n\n\n\n
The partnership will\nenable ADNOC to leverage G42\u2019s sophisticated CPU and GPU-based computing\nclusters, world-class data scientists, software engineers, domain experts, as\nit accelerates the delivery of its 2030 smart growth strategy. In return, G42\nwill have access to ADNOC\u2019s petabytes of archival data as it develops new AI\nsolutions for the oil and gas industry. <\/p>\n\n\n\n
Xiao said: \u201cWe are\nproud to join forces with ADNOC to create this new Abu Dhabi based entity that\nwill provide the world with best-in-class, AI-based technological solutions for\nthe oil and gas industry.\u201d<\/p>\n\n\n\n
\u201cThis partnership will\nenable us to further develop the advanced AI tools required by ADNOC and other\nleading oil and gas companies to become more efficient, enhance their\nperformance and empower their people, as they deliver the energy required for\nfuture economic growth.\u201d <\/p>\n\n\n\n
The partnership with G42\nis one of several Digital Transformation initiatives by ADNOC, as it utilises\ncutting-edge technology across its entire value chain to reduce the downtime of\ncritical equipment, improve recovery rates of wells, increase energy efficiency\nand introduce flexibility to respond to market signals. Among the technologies\nADNOC is deploying are Artificial Intelligence, data analytics, Blockchain and Machine\nLearning. <\/p>\n","protected":false},"excerpt":{"rendered":"
The Abu Dhabi National Oil Company (ADNOC) has signed an agreement with Group 42 (G42), an Abu Dhabi based Artificial Intelligence (AI), cloud and supercomputing company, to establish a joint venture to develop and commercialise AI products for the oil and gas industry. Under the terms of the agreement, a new company will be established […]<\/p>\n","protected":false},"author":18,"featured_media":43340,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[687,809,3629,78,185,79],"tags":[9909,4267,181,3211,1136,3539,10659,10658,3540,10657],"class_list":["post-43339","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-energy","category-more-news","category-newsletter","category-regional-news-newsletter","category-uae","category-used","tag-abu-dhabi-national-oil-company","tag-adipec","tag-adnoc","tag-ai","tag-energy","tag-gas","tag-group-42","tag-i-sultan-ahmed-al-jaber","tag-oil","tag-omar-suwaina-al-suwaid"],"acf":[],"publishpress_future_workflow_manual_trigger":{"enabledWorkflows":[]},"_links":{"self":[{"href":"https:\/\/www.intelligentcio.com\/me\/wp-json\/wp\/v2\/posts\/43339","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.intelligentcio.com\/me\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.intelligentcio.com\/me\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.intelligentcio.com\/me\/wp-json\/wp\/v2\/users\/18"}],"replies":[{"embeddable":true,"href":"https:\/\/www.intelligentcio.com\/me\/wp-json\/wp\/v2\/comments?post=43339"}],"version-history":[{"count":9,"href":"https:\/\/www.intelligentcio.com\/me\/wp-json\/wp\/v2\/posts\/43339\/revisions"}],"predecessor-version":[{"id":43354,"href":"https:\/\/www.intelligentcio.com\/me\/wp-json\/wp\/v2\/posts\/43339\/revisions\/43354"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.intelligentcio.com\/me\/wp-json\/wp\/v2\/media\/43340"}],"wp:attachment":[{"href":"https:\/\/www.intelligentcio.com\/me\/wp-json\/wp\/v2\/media?parent=43339"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.intelligentcio.com\/me\/wp-json\/wp\/v2\/categories?post=43339"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.intelligentcio.com\/me\/wp-json\/wp\/v2\/tags?post=43339"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}