ABU DHABI, 8th December, 2022 (WAM) -- The Oil and Gas Holding Company B.S.C. (nogaholding) has collaborated with AIQ, the UAE-based technology pioneer focused on the AI-powered transformation of the energy sector, to integrate and deploy artificial intelligence and digital solutions into its upstream operations.
Through this collaboration, nogaholding 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.
Mark Thomas, Group Chief Executive Officer of nogaholding, commented, "The fourth industrial revolution has enabled companies to implement big data and AI to enhance operations and efficiency. Through this collaboration with AIQ, nogaholding aims to maximise the value of national resources and venture into new areas of growth and opportunity."
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."
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.