Gazprom Neft and AIQ (a joint venture between ADNOC and Group 42) have agreed to cooperate in the creation and commercialization of digital solutions for the fuel and energy complex. The Memorandum of Understanding was signed by Gazprom Neft Technological Development Director Alexei Vashkevich and AIQ CEO Omar Al Marzouki.
With the participation of AIQ, Gazprom Neft intends to promote its cognitive solutions for drilling optimization in the Middle East market. For example, the industry’s first self-learning program for cost optimization in high-tech well construction. The technology makes it possible to determine the type of rocks at a depth of several kilometers in real time using the indirect parameters of the drilling equipment operation. This helps to drill more accurately and faster in thin oil reservoirs, reducing operating costs for drilling.
In addition to the joint commercialization of ready-made digital solutions, the companies intend in the future to jointly develop software to optimize business processes in the oil and gas industry.
Gazprom Neft views the Middle East as one of the priority markets for promoting its technological products. In September of this year, the company first presented its technologies and digital projects at the largest international industry event – the SPE Annual Technical Conference and Exhibition (ATCE) in the United Arab Emirates.
“In the global oil and gas industry, there are no boundaries for technology diffusion, and the exchange of experience and knowledge is ongoing. This allows us to cope with common challenges and create new solutions. We have already seen that our technology and IT products are of interest to many industry players, including the Middle East. The agreement with AIQ opens up new opportunities for the development of our digital technologies, their customization to the needs and conditions of a particular region, and also creates prospects for the creation and commercialization of joint products. “Alexey Vashkevich Director for Technological Development, Gazprom Neft
“We are pleased with the new partnership between AIQ and Gazprom Neft, which will facilitate cooperation between the two key energy companies. We are committed to developing disruptive technologies that will create value and growth opportunities in our business. As the UAE moves towards an energy transition, we are delighted that many international companies increasingly view Abu Dhabi as a world-class hub for digital technology and artificial intelligence. ”Omar Al Marzouki CEO of AIQ
AIQ is a joint venture between ADNOC (the national oil company of Abu Dhabi) and Group 42 (a large digital IT company in Abu Dhabi), formed in 2019 to address the challenges of developing digital solutions for the oil and gas industry.
Abu Dhabi National Oil Company ADNOC is the state-owned oil company of the United Arab Emirates. It is the 12th largest oil company in the world in terms of production and the largest oil company in the UAE. As of 2021, the company’s oil production capacity exceeds 4 million barrels per day, and by 2030 it is planned to increase it to 5 million barrels per day.
Gazprom Neft Is a vertically integrated oil company. The main activities are exploration and development of oil and gas fields, oil refining, production and sale of oil products. In terms of oil production and refining, Gazprom Neft is one of the three largest companies in Russia. The structure of Gazprom Neft includes more than 70 oil producing, refining and marketing enterprises in Russia, CIS and non-CIS countries. The geography of Gazprom Neft’s business covers 110 countries of the world. The company’s network of filling stations has more than 2 thousand stations in Russia, the CIS countries and Europe. The company ranks among the industry leaders in terms of efficiency. At the end of 2020, the company’s revenue amounted to 2 trillion rubles, adjusted EBITDA – 485 billion rubles, net profit – 117.7 billion rubles. The largest shareholder of Gazprom Neft is PJSC Gazprom (95.68%).
Gazprom Neft and the Abu Dhabi National Oil Company (ADNOC) agreed on strategic cooperation in October 2019. One of the priority areas of interaction between the parties is the joint development of information technology and artificial intelligence.