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AIQ, Schlumberger and Group 42 (G42), signed today a strategic framework agreement to collaborate on the development and deployment of artificial intelligence (AI), machine learning and data solutions for the oil and gas industry.
Under the terms of the agreement, the three companies will leverage their combined domain knowledge in digital technology, high-performance computing and cloud storage capabilities to develop and commercialize market-leading AI products for the global Upstream Exploration and Production (E&P) market.
The agreement brings together three companies who will proactively collaborate in developing innovative and pioneering technology solutions. AIQ is an Abu Dhabi-based joint venture company between G42 and the Abu Dhabi National Oil Company (ADNOC) that specializes in the development of AI products and applications for the global oil and gas industry, and G42 is a leading AI and cloud computing company based in Abu Dhabi. Schlumberger is the world’s leading provider of technology and digital solutions for reservoir characterization, drilling, production, and processing to the energy industry.
Speaking ahead of the official opening of the Abu Dhabi International Petroleum Exhibition Conference (ADIPEC), Abdulmunim Saif Al Kindy, Chairman of the AIQ Board, said: “We are excited to be working with Schlumberger and Group 42 to develop best-in-class digital and AI technology solutions for the global oil and gas industry. We look forward to bringing together the teams’ combined Upstream industry expertise and AIQ’s AI modelling and supercomputing capabilities to develop and commercialize advanced AI solutions. These advanced AI solutions will play an important role in helping to further accelerate digital transformation within the global energy industry.”
As part of the partnership, AIQ’s world-class data scientists, AI experts and software developers will work on developing and deploying AI modelling and supercomputing solutions using Schlumberger’s open cloud-based software platforms. The deployment will be hosted on G42’s cloud infrastructure.
Rajeev Sonthalia, President, Digital & Integration at Schlumberger, said: “Through this exciting collaboration, world-class data scientists, software engineers and domain experts will work together on the development and provision of technical solutions and services to accelerate the development of AI solutions for the Upstream Exploration and Production market. Together, we will steer the development of a strategic partnership that can lead the way in digital innovation and transformation in the energy industry.”
“Partnering with world-leading companies to develop innovative industry-specific solutions is in G42’s DNA,” said Mansoor Al Mansoori, Chief Operating Officer at Group 42. “A secure, scalable and intelligent cloud infrastructure is an essential element of any digital transformation program. G42’s world-class cloud will support AIQ and Schlumberger on their joint endeavor to make oil and gas organizations more intuitive, agile and effective, and help unlock opportunities for multi-faceted growth in the energy industry.”
The combined team will also cross-share relevant proprietary research technology and work to identify pilot projects that have the potential to be commercialized in the global E&P market.