Bahrain’s Oil and Gas Holding Company (nogaholding) has collaborated with the UAE-based technology pioneer focused on the AI-powered transformation of the energy sector, AIQ in order to integrate and deploy artificial intelligence (AI) and digital solutions into its upstream operations.
nogaholding is the hydrocarbon and energy investment as well as development arm of the Kingdom of Bahrain.
Through this collaboration, nogaholding will utilize the latest AI technologies provided by AIQ to increase the operational efficiency of 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.
Mr. Mark Thomas, Group Chief Executive Officer of nogaholding, said that “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.”
“AIQ is developing breakthrough AI tools and applications that accelerate the sustainable digital transformation of the energy sector. We look forward to working with nogaholding to leverage the power of AI and data to unlock value for Tatweer Petroleum,” commented Mr. Omar Al Marzooqi, CEO of AIQ.
According to the statement, “AIQ has 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.” AIQ efficiently collects, categorizes, and models data allowing for smarter, safer, and more informed decision-making, the company added.