The Abu Dhabi National Oil Company (ADNOC) announced today, Sunday, the launch of the activities of the first session of the “ADNOC Innovation Week”.
The event reviews ADNOC’s strategy in the field of modern technology and innovation, especially in the field of digitization and artificial intelligence.
The opening of the week was attended by Dr. Sultan bin Ahmed Al Jaber, Minister of Industry and Advanced Technology, CEO of Abu Dhabi National Oil Company (ADNOC) and its group of companies, Sarah Bint Yousef Al Amiri, Minister of State for Advanced Technology, and a large number of administrators, experts and officials in the sector, according to a news agency. UAE.
The event, which will be held virtually from 21-25 February, brings together thousands of company employees to discuss and share opinions about ADNOC’s technology roadmap and its innovation strategy aimed at strengthening its leadership among oil and gas companies in the field of advanced technology.
In his opening speech during the event, Dr. Sultan bin Ahmed Al Jaber stressed the importance of implementing the vision of wise leadership by spreading innovation and technology applications in the business sector, noting that we live in a world in which the innovations of the Fourth Industrial Age define the competitive advantages of companies and businesses, so no sector can stand still. And remain a spectator.
He stressed that ADNOC’s continuation of its success path depends on its speed in adopting and applying future technologies, referring to the initiatives and projects undertaken by the company in this regard.
Over the past four years, ADNOC has made strategic investments to apply the latest technologies and innovations in all stages and aspects of its business as part of its digital transformation process.
These investments include projects in the areas of artificial intelligence, big data, blockchain and predictive analytics, all of which have contributed to enhancing value, reducing costs and paving the way for ADNOC to become a technology leader in the energy sector as it prepares for the post-Covid-19 phase.
He explained that ADNOC’s plan to enhance its leadership in the field of technology includes its transformation from a company that possesses the latest technologies and innovative solutions to a developer of technology for oil and gas and providing it to the entire sector.
A practical example of this transformation is ADNOC’s joint project with Group 42, which it launched last year under the name AIQ to develop artificial intelligence solutions aimed at improving operations, improving planning processes, increasing profitability and providing innovative solutions for the oil and gas sector in general.
He said: “The progress and development that we will achieve in the future is linked to our ability to transform from a technology-consuming company to a provider to it, and this is the pivotal idea behind establishing our joint venture AIQ with Group 42, where AIQ works to develop solutions and applications of artificial intelligence and innovations. In machine learning. These innovations will be registered and licensed and made available to our partners in the oil and gas sector. ”
He pointed to the progress made by the company in adopting the latest technologies in various fields and stages of its business, highlighting the success of ADNOC in saving billions of dollars through the “Panorama” center and other digital initiatives.
He said, “We started the digital transformation journey in 2018, when we launched ADNOC’s advanced Panorama Digital Control Center, which contributed to a quantum leap in how to leverage big data and artificial intelligence to support decision-making in ADNOC. Before the establishment of the Panorama Center” , The information and data lacked a central platform to collect it, and by gathering this big data in a unified platform, we were able to make the most of it and save huge sums of money.
He also noted that there are many great and promising opportunities to enhance ADNOC’s progress and maintain its leading position in the field of innovation and technology.
He said, “For example, ADNOC can take advantage of the opportunity of having the first research university in the world dedicated to artificial intelligence in Abu Dhabi.”
“The Mohammed Bin Zayed University for Artificial Intelligence will be an important source of research and innovation that ADNOC can benefit from,” he added.
In conclusion, he affirmed that the spirit of innovation that brought the UAE to Mars will enable ADNOC to move to the next stage in its qualitative journey.
Technology application acceleration
Sarah Yousef Al Amiri said: “Advanced technology, research and development is one of the main priorities of the UAE, and ADNOC Innovation Week is an ideal platform to stimulate creative thinking and accelerate the application of technology to enhance flexibility and provide solutions to the challenges we face in the post-Covid-19 recovery phase.”
The ADNOC Innovation Week will see ADNOC hosting the first meeting of heads of technology sectors in the world’s leading oil companies. The meeting, which will be held on February 22nd with the presence of more than 30 officials, will include Professor Nicholas Webb, the famous writer and inventor who has more than 40 registered patents. In the US Patent and Trademark Office.
During the “Innovation Week”, ADNOC will review the various technologies that it employs across the various fields and stages of its business. It also hosts a series of discussion sessions in which employees from the departments of exploration, development and production, refining and manufacturing, marketing, trading and trading, and the group companies share opinions and views on topics. And major innovation initiatives.
Over the past four years, ADNOC has implemented strategic investments and launched several initiatives in the field of technology and innovation within the framework of digital transformation and the paradigm shift through which it aims to enhance efficiency, improve performance and increase the value of its assets and resources.
These initiatives include the “Panorama Digital Control Center” which has achieved a commercial value for ADNOC in excess of one billion US dollars (3.67 billion dirhams) since its inauguration.
The center leverages artificial intelligence, big data and smart analytics applications to collect information and real-time data from various ADNOC operations to provide insights and recommendations that help speed decision-making.
Other digital initiatives for the company include the Thumama Center for the Study of Petroleum Reserves, which uses big data, smart analytics, and artificial intelligence applications to identify hydrocarbon resources and increase value from existing fields.
ADNOC is also applying AI-enabled technologies to improve the performance of value chain components, predictive maintenance, and hydrocarbon resource computation based on a blockchain “blockchain”.