Abu Dhabi National Oil Company (ADNOC) has embraced the power of artificial intelligence (AI), generating $500 million of additional value in 2023. The integration of over 30 industry-leading AI tools across ADNOC’s entire value chain has revolutionized field operations and enhanced corporate decision-making.
Through the strategic implementation of AI, ADNOC has also made significant strides in reducing its carbon footprint, preventing up to 1 million tons of carbon dioxide emissions between 2022 and 2023. This achievement reflects ADNOC’s commitment to environmental responsibility and sustainability.
Group Chief Executive Sultan Al Jaber acknowledged the instrumental role of AI in ADNOC’s growth and diversification. “As we aim to secure a reliable and responsible supply of energy, we are leveraging AI to future-proof our business and extract greater value from our assets and resources,” Al Jaber stated.
ADNOC’s AI initiatives are powered by cutting-edge tools developed by AIQ, a joint venture with Abu Dhabi’s premier AI company, G42. The range of applications for AI within ADNOC’s operations is expansive, encompassing production activities, reservoir management, and capacity expansion.
Chief Technology Officer Sophie Hildebrand highlighted the tangible benefits derived from AI implementation. “Through automation and optimization of our processes, we have achieved greater efficiency and made improvements throughout the value chain, from capital expenditure to operational expenditure, working capital, and production,” Hildebrand explained.
As AI technology continues to evolve, ADNOC foresees even greater possibilities on the horizon. The generated value from AI is expected to increase significantly in the future. However, specific figures were not disclosed.
By harnessing the potential of AI, ADNOC is spearheading innovation within the oil and gas industry. This strategic adoption of AI-driven solutions ensures ADNOC’s continued success, resilience, and commitment to sustainable practices.
FAQ Section:
Q: What is the Abu Dhabi National Oil Company (ADNOC)?
A: The Abu Dhabi National Oil Company (ADNOC) is a state-owned oil company based in Abu Dhabi, United Arab Emirates.
Q: How has ADNOC embraced artificial intelligence (AI)?
A: ADNOC has integrated over 30 industry-leading AI tools across its entire value chain, revolutionizing field operations and enhancing corporate decision-making.
Q: What value has AI generated for ADNOC?
A: AI has generated an additional value of $500 million for ADNOC in 2023.
Q: How has AI helped ADNOC reduce its carbon footprint?
A: Through the strategic implementation of AI, ADNOC has prevented up to 1 million tons of carbon dioxide emissions between 2022 and 2023.
Q: Who is the Group Chief Executive of ADNOC?
A: The Group Chief Executive of ADNOC is Sultan Al Jaber.
Q: What is the role of AIQ in ADNOC’s AI initiatives?
A: AIQ is a joint venture between ADNOC and G42, Abu Dhabi’s premier AI company, and provides cutting-edge tools for ADNOC’s AI initiatives.
Q: What are the areas of application for AI within ADNOC’s operations?
A: AI is used in various areas of ADNOC’s operations, including production activities, reservoir management, and capacity expansion.
Q: What benefits have been derived from AI implementation at ADNOC?
A: AI implementation has resulted in greater efficiency, improvements in capital expenditure, operational expenditure, working capital, and production.
Q: What does the future hold for ADNOC’s AI initiatives?
A: ADNOC foresees even greater possibilities with the evolution of AI technology, but specific figures were not disclosed.
Definitions:
1. Abu Dhabi National Oil Company (ADNOC): A state-owned oil company based in Abu Dhabi, United Arab Emirates.
2. Artificial Intelligence (AI): The simulation of human intelligence by machines, especially computer systems, to perform tasks and make decisions.
3. Carbon Footprint: The total amount of greenhouse gases, primarily carbon dioxide, released into the atmosphere as a result of human activities.
4. Joint Venture: A business arrangement in which two or more parties agree to pool their resources and expertise to achieve a specific goal or undertake a specific project.
5. Reservoir Management: The planning, monitoring, and control of underground oil and gas reservoirs to optimize production and maximize recovery.
Related Link:
ADNOC Official Website
The source of the article is from the blog rugbynews.at