The Abu Dhabi National Oil Company (ADNOC) has revealed its plans to secure the company’s leadership in innovation and advanced technologies, particularly in harnessing the power of Big Data and artificial intelligence (AI) as it kicks off its first innovation week.
The ADNOC Innovation Week which takes place virtually from February 21 to 25 will include a series of events by bringing together thousands of its employees to engage on its technology roadmap and innovation strategy. The company will also host its first chief technology officer (CTO) roundtable, featuring chief technologies from international players of the sector.
“We began our digital journey back in 2018 when we launched Panorama, our state-of-the-art digital command center. Panorama basically changed the game for how ADNOC leverages big data and artificial intelligence to guide our decision-making. Before Panorama, our data was decentralized and lacked focus. By bringing it all together, we turned big data into big savings.”
ADNOC has been developing its in-house capabilities for data gathering and reporting since the opening of the Panorama Digital Command Centre. The data gathering, modeling tools and predictive maintenance machine learning technology have enabled the company to avoid service disruptions and respond swiftly to market dynamics, which have been critical in 2020.
Last year, the UAE state-owned oil company has also formed a joint venture named AIQ with Abu Dhabi’s artificial intelligence firm Group 42 to develop and commercialize AI products and applications for the oil and gas industry.
After a month of the initiation of AIQ, the world’s largest energy services firm, Schlumberger, agreed on a deal to develop and sell AI products for the global exploration and production market.
“In the future, our progress as a business will increasingly be enhanced by our ability to move from being a technology customer to becoming a technology provider and this is the central idea behind our joint venture with G42. AIQ is working on AI solutions and innovations in machine learning that will ultimately be patented, licensed and offered to our industry partners,” Dr. Al Jaber said.
The roundtable of chief technology officers is scheduled to be conducted on February 22, with 30 CTOs from international oil companies. The session will be moderated by Nicholas Webb, a best-selling author and inventor with more than 40 patents.
The national oil company will also exhibit different technologies it is embedding across its value chain through panel sessions featuring employees sharing their perspectives on key innovation topics.
Also Read: Aramco, ADNOC lead MidEast in brand value; Globally Apple dethrones Amazon