Egyptian-Emirati cooperation to employ artificial intelligence in developing the petroleum sector

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Cairo, July 1, 2017 – His Excellency Engineer Karim Badawi, Egyptian Minister of Petroleum and Mineral Resources, discussed enhancing Egyptian-Emirati cooperation in employing artificial intelligence and digital transformation techniques in the petroleum sector, in a way that supports exploration and production work, raises operating efficiency, reduces the cost of producing a barrel, and maximizes the economic return from petroleum wealth.

This came during a meeting with the Egyptian Minister of Petroleum, Dennis Goul, CEO of AIQ, a subsidiary of ADNOC Group, where the two sides discussed opportunities to benefit from artificial intelligence applications in analyzing geophysical and seismic data, re-evaluating old fields, and supporting horizontal drilling and hydraulic fracturing operations, in addition to discussing the establishment of a joint entity called AIQ Egypt to apply artificial intelligence solutions in the Egyptian petroleum sector by taking advantage of the data of the Egypt Digital Exploration and Production Portal (EUG).

The Minister of Petroleum stressed that artificial intelligence has become an essential pillar for the future of the petroleum industry, as it provides advanced capabilities in analyzing data, improving the quality of decisions, accelerating exploration work, increasing productivity, and reducing costs, which contributes to achieving new discoveries and maximizing the benefit from old and obsolete fields.

For his part, the CEO of AIQ reviewed the smart solutions that the company is developing in the fields of exploration, drilling, production, asset management, and facility safety, noting the development of applications based on physics and chemistry models, systems for early prediction of submersible lift pump malfunctions about 45 days before they occur, a smart platform for managing and analyzing well data, and smart cameras to enhance occupational safety and health and protect the environment, in a way that supports raising operational efficiency and reducing risks.

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