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ADNOC rakes in $500 million of extra value with AI solutions

AI adoption contributed to a reduction of up to one million tonnes of carbon dioxide emissions between 2022 and 2023.

ADNOC rakes in $500 million of extra value with AI solutions
[Source photo: Krishna Prasad/Fast Company Middle East]

Artificial Intelligence (AI) has revolutionized industries worldwide, with businesses increasingly turning to AI solutions to drive efficiency and innovation. 

One of the Middle East’s oil giants, The Abu Dhabi National Oil Company (ADNOC), reported generating $500 million in additional value in 2023 by deploying AI tools.

According to a company statement, this value stemmed from integrating over 30 industry-leading AI solutions throughout the energy giant’s value chain, encompassing everything from field operations to corporate decision-making.

Notably, ADNOC credits its AI adoption with reducing up to one million tonnes of carbon dioxide emissions between 2022 and 2023, equivalent to removing roughly 200,000 gasoline-powered vehicles from the road.

“AI is one of the most important economic and social game changers of our era, and it can play a crucial role in accelerating a just, orderly, and equitable energy transition,” said Dr. Sultan Ahmed Al Jaber, Minister of Industry and Advanced Technology and ADNOC managing director and group CEO.

Dr. Al Jaber further emphasized ADNOC’s commitment to integrating AI to “future-proof” its business, ensuring a secure, reliable, and responsible energy supply while maximizing sustainable value from its resources.

The company highlighted its Centralised Predictive Analytics and Diagnostics (CPAD) program, an AI-powered system for remotely monitoring operational equipment. CPAD has demonstrably reduced the frequency of unplanned shutdowns and streamlined maintenance activities, leading to improved operational efficiency.

ADNOC elaborated that AI technology is pivotal in its operations. It includes resource mapping, facilitating drilling and production activities, and reservoir management, ultimately contributing to increased production capacity and lower-carbon energy production. 

Among the AI tools employed by ADNOC is Emission X, developed in collaboration with AIQ, a joint venture with Abu Dhabi’s Group 42. Other AIQ tools utilized by the energy giant include SMARTi, which identifies safety hazards in industrial settings, and Robowell, a system for remote operation of equipment and flow valves.

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