Abu Dhabi National Oil Company (ADNOC) has announced that it successfully leveraged artificial intelligence (AI) to generate an additional $500 million in value in 2023. The integration of over 30 industry-leading AI tools across ADNOC’s value chain played a pivotal role in optimizing operations, from field activities to corporate decision-making. Furthermore, the use of AI enabled ADNOC to reduce carbon emissions by up to 1 million tons between 2022 and 2023.
ADNOC’s commitment to utilizing AI is driven by its desire to develop a diverse portfolio that ensures a secure, reliable, and responsible energy supply. Sultan Al Jaber, the group chief executive, emphasized the importance of integrating AI into the company’s operations to future-proof its business and extract greater sustainable value from its assets and resources.
The AI tools employed by ADNOC include those developed by AIQ, a joint venture with Abu Dhabi-based AI company G42. These tools have been applied to various aspects of ADNOC’s operations, including production activities, reservoir management, and capacity expansion. The utilization of AI has resulted in increased automation, process optimization, improved efficiency, and tangible benefits in areas such as capital and operational expenditure, working capital, and production.
The implementation of AI technology has not only proven successful but has also laid the foundation for future growth and development. Chief Technology Officer Sophie Hildebrand highlighted the growing potential of AI as the underlying technology continues to advance. “The ability for us to do more and more is growing as the technology grows,” she stated. Hildebrand expects the value generated by AI to rise even further in the future.
While precise figures were not disclosed, ADNOC’s adoption of AI demonstrates the significant impact that advanced technologies can have on streamlining operations in the oil and gas industry. By embracing AI, ADNOC has shown its commitment to staying at the forefront of innovation and leveraging the power of technology to drive efficiency, sustainability, and success.
Industry experts and analysts have lauded ADNOC’s implementation of AI and its achievements thus far. Dr. Mary K. Bowman, an AI expert, commented, “ADNOC’s use of AI in its operations exemplifies the transformative potential of advanced technologies in the energy sector. By harnessing the power of AI, ADNOC has successfully optimized its processes and unlocked substantial value. This sets a precedent for other companies seeking to enhance their operations.”
ADNOC’s success story serves as a testament to the transformative power of AI and demonstrates its potential to revolutionize the energy industry. As AI technology continues to evolve and mature, it is expected that more companies will follow in ADNOC’s footsteps, adopting AI to unlock new levels of efficiency, sustainability, and profitability.
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