Bahrain-based Oil and Gas Holding Company (nogaholding) said it has joined hands with AIQ - a leading technology pioneer based in UAE which focuses on 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 in Tatweer Petroleum, a subsidiary of nogaholding. 

 

The digitalization project will use machine learning and data science to enhance existing field architecture to optimize and improve performance, while reducing operational risk, stated nogaholding. 

 

Group CEO Mark Thomas said: "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 maximize the value of national resources and venture into new areas of growth and opportunity."

 

CEO Omar Al Marzooqi said AIQ was developing breakthrough AI tools and applications that accelerate the sustainable digital transformation of the energy sector.

 

AIQ, he stated, had 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. 

 

The company efficiently collects, categorizes, and models data allowing for smarter, safer, and more informed decision-making.

 

"We look forward to working with nogaholding to leverage the power of AI and data to unlock value for Tatweer Petroleum," he added.-TradeArabia News Service