The Bahrain-based Oil and Gas Holding Company (nogaholding) announced a collaboration deal with UAE technology pioneer AIQ to integrate and deploy artificial intelligence (AI) and digital solutions into its upstream operations.
Under the collaboration pact, the energy investment specialists will utilise the latest AI technologies provided by AIQ to increase the operational efficiency of Tatweer Petroleum, a subsidiary of nogaholding.
The digitalisation project will use machine learning and data science to enhance existing field architecture to optimise and improve performance, while reducing operational risk.
Group CEO Mark Thomas said through the collaboration with AIQ, nogaholding aims to maximise the value of national resources and venture into new areas of growth and opportunity.
“The fourth industrial revolution has enabled companies to implement big data and AI to enhance operations and efficiency,” he added.
Omar Al Marzooqi, CEO of AIQ, said AIQ is developing breakthrough AI tools and applications that accelerate the sustainable digital transformation of the energy sector.
“We look forward to working with nogaholding to leverage the power of AI and data to unlock value for Tatweer Petroleum,” he said.
AIQ has enabled the development of breakthrough AI solutions across the energy industry, with the company focusing its expertise on critical AI projects across the oil and gas value chain.
AIQ efficiently collects, categorises, and models data allowing for smarter, safer, and more informed decision-making.
Source:https://www.arabianbusiness.com/industries/energy/bahrain-energy-firm-signs-deal-for-ai-oil-drilling-technology