UAE – ADNOC and G42 sign deal to develop AI products

The Abu Dhabi National Oil Company (ADNOC) has inked a deal with Group 42 (G42) to set up a JV to develop and commercialize AI products for the oil and gas industry. The agreement was signed at the Abu Dhabi International Petroleum Exhibition and Conference (ADIPEC) by Omar Suwaina Al Suwaidi, Director, Executive Office Directorate, ADNOC, and Peng Xiao, CEO of G42. The signing of the agreement was witnessed by Dr. Sultan Ahmed Al Jaber, UAE Minister of State and ADNOC Group CEO. As we prepare for the opportunities and challenges the 4th industrial age will present, this joint venture is a pro-active approach using an innovative partnership to create the oil and gas technology solutions of tomorrow. It reflects ADNOC’s commitment to deploying the power of advanced technology to maximize value from every molecule we produce and will strengthen Abu Dhabi and the UAE’s leading position at the cutting edge of AI and the global energy sector. According to a statement, the partnership will enable ADNOC to leverage G42’s CPU and GPU-based computing clusters, data scientists, software engineers, domain experts, as it works to the delivery of its 2030 smart growth strategy. G42 will also have access to ADNOC’s archival data, which will enable the firm to develop new AI solutions for the oil and gas industry. Xiao added We are proud to join forces with ADNOC to create this new Abu Dhabi based entity that will provide the world with best-in-class, AI-based technological solutions for the oil and gas industry. This partnership will enable us to further develop the advanced AI tools required by ADNOC and other leading oil and gas companies to become more efficient, enhance their performance and empower their people, as they deliver the energy required for future economic growth.