Abu Dhabi National Oil Company (ADNOC) announced on Tuesday that its implementation of artificial intelligence (AI) technology resulted in an additional value of $500 million in 2023. <o:p></o:p>

The state oil giant disclosed that it had successfully integrated over 30 AI tools across various operations, spanning from field activities to corporate decision-making processes, with plans for broader adoption of AI technology.<o:p></o:p>

ADNOC highlighted the role of AI in revolutionising operational efficiency, citing a program utilising AI for remote monitoring of operational equipment, which reduced unexpected shutdowns and enhanced overall efficiency. <o:p></o:p>

Moreover, AI technology has been instrumental in resource mapping, supporting drilling and production activities, and facilitating reservoir management, contributing to increased production capacity and the delivery of lower carbon-intensity energy solutions.<o:p></o:p>

Sophie Hildebrand, ADNOC's Chief Technology Officer, highlighted the transformative impact of AI initiatives, emphasising the enhancements in automation and process optimisation across various facets of the company's operations. <o:p></o:p>

Hildebrand said that there are tangible benefits derived from AI implementation, including improvements in capital expenditure, operational expenditure, working capital management, and production efficiency.<o:p></o:p>

"The ability for us to do more and more is growing as the technology grows," Reuters quoted&nbsp; Hildebrand as saying. <o:p></o:p>

While declining to provide specific figures, she anticipated further growth in the value generated by AI initiatives in the future.<o:p></o:p>

ADNOC's AI initiatives are strengthened by tools developed through its joint venture with G42, known as AIQ. <o:p></o:p>

Notable AIQ tools utilised by ADNOC include SMARTi, designed for hazard detection in industrial environments, and Robowell, facilitating remote equipment operation and flow valve control to enhance safety, reduce costs, and optimise production capacity.<o:p></o:p>

The partnership between ADNOC and G42 highlights the strategic collaboration between industry leaders and technology innovators in driving forward AI integration within the oil and gas sector. <o:p></o:p>

G42, a key player in the AI sector, is part of a business conglomerate associated with Sheikh Tahnoun bin Zayed al-Nahyan, the UAE's national security adviser, and brother of President Sheikh Mohammed bin Zayed al-Nahyan.<o:p></o:p>

(With inputs from Reuters)<o:p></o:p>

Abu Dhabi National Oil Company (ADNOC) announced on Tuesday that its implementation of artificial intelligence (AI) technology resulted in an additional value of $500 million in 2023.

Abu Dhabi National Oil Company (ADNOC) announced on Tuesday that its implementation of artificial intelligence (AI) technology resulted in an additional value of $500 million in 2023. The state oil giant disclosed that it had successfully integrated over 30 AI tools across various operations, spanning from field activities to corporate decision-making processes, with plans for broader adoption of AI technology. ADNOC highlighted the role of AI in revolutionising operational efficiency, citing a program utilising AI for remote monitoring of operational equipment, which reduced unexpected shutdowns and enhanced overall efficiency. Moreover, AI technology has been instrumental in resource mapping, supporting drilling and production activities, and facilitating reservoir management, contributing to increased production capacity and the delivery of lower carbon-intensity energy solutions. Sophie Hildebrand, ADNOC's Chief Technology Officer, highlighted the transformative impact of AI initiatives, emphasising the enhancements in automation and process optimisation across various facets of the company's operations. Hildebrand said that there are tangible benefits derived from AI implementation, including improvements in capital expenditure, operational expenditure, working capital management, and production efficiency. "The ability for us to do more and more is growing as the technology grows," Reuters quoted Hildebrand as saying. While declining to provide specific figures, she anticipated further growth in the value generated by AI initiatives in the future. ADNOC's AI initiatives are strengthened by tools developed through its joint venture with G42, known as AIQ. Notable AIQ tools utilised by ADNOC include SMARTi, designed for hazard detection in industrial environments, and Robowell, facilitating remote equipment operation and flow valve control to enhance safety, reduce costs, and optimise production capacity. The partnership between ADNOC and G42 highlights the strategic collaboration between industry leaders and technology innovators in driving forward AI integration within the oil and gas sector. G42, a key player in the AI sector, is part of a business conglomerate associated with Sheikh Tahnoun bin Zayed al-Nahyan, the UAE's national security adviser, and brother of President Sheikh Mohammed bin Zayed al-Nahyan. (With inputs from Reuters)

Abu Dhabi’s state oil company harnesses AI, adds $500 million in net value in 2023

The&nbsp;Indian cabinet on Wednesday allowed Abu Dhabi National Oil Co (ADNOC)to export oil from its Mangalore strategic petroleum reserve (SPR), a minister said, marking a policy shift that could enhance foreign participation as&nbsp;India&nbsp;seeks to expand its storage capacity.

Allowing ADNOC to export its oil mirrors a model adopted by countries such as Japan and South Korea which allow oil producers to re-export crude storage.&nbsp;India&nbsp;does not allow oil exports.

"The move will facilitate trade for ADNOC," Prakash Javadekar, minister of environment, told a news briefing.

ADNOC had been seeking permission from the&nbsp;Indian government for the export of its oil from the cavern as it was finding difficult to sell to&nbsp;Indian refiners, some of which have cut crude processing due to falling demand.

ADNOC can now export oil stored in the Mangalore SPR in foreign flagged ships. So far&nbsp;Indian flagged ships were used for coastal movement of the oil from the cavern.

Indian companies will have a first right of refusal in case of any re-exports by ADNOC, a government source said.

India, the world’s third-biggest oil importer and consumer, imports about 80 per cent&nbsp;of its oil needs and has built strategic storage at three locations in southern&nbsp;India&nbsp;to store up to 5 million tonnes oil to protect against supply disruption.

India&nbsp;also plans to build strategic storage at Chandikhol in Odisha and Padur in Karnataka for around 6.5 million tonnes of crude.

The&nbsp;Indian Strategic Petroleum Reserve Ltd has leased half of the 1.5 million tonnes capacity in Mangalore storage to ADNOC, while ISPRL has retained the remainder.

The previous lease allowed ADNOC to sell only 35% of its oil stored in Mangalore to&nbsp;Indian refiners and another 15% with permission from the government. The remainder was kept for&nbsp;India’s needs.

The Indian cabinet on Wednesday allowed Abu Dhabi National Oil Co (ADNOC)to export oil from its Mangalore strategic petroleum reserve (SPR), a minister said, marking a policy shift that could enhance foreign participation as India seeks to expand its storage capacity.

The Indian cabinet on Wednesday allowed Abu Dhabi National Oil Co (ADNOC)to export oil from its Mangalore strategic petroleum reserve (SPR), a minister said, marking a policy shift that could enhance foreign participation as India seeks to expand its storage capacity. Allowing ADNOC to export its oil mirrors a model adopted by countries such as Japan and South Korea which allow oil producers to re-export crude storage. India does not allow oil exports. "The move will facilitate trade for ADNOC," Prakash Javadekar, minister of environment, told a news briefing. ADNOC had been seeking permission from the Indian government for the export of its oil from the cavern as it was finding difficult to sell to Indian refiners, some of which have cut crude processing due to falling demand. ADNOC can now export oil stored in the Mangalore SPR in foreign flagged ships. So far Indian flagged ships were used for coastal movement of the oil from the cavern. Indian companies will have a first right of refusal in case of any re-exports by ADNOC, a government source said. India, the world’s third-biggest oil importer and consumer, imports about 80 per cent of its oil needs and has built strategic storage at three locations in southern India to store up to 5 million tonnes oil to protect against supply disruption. India also plans to build strategic storage at Chandikhol in Odisha and Padur in Karnataka for around 6.5 million tonnes of crude. The Indian Strategic Petroleum Reserve Ltd has leased half of the 1.5 million tonnes capacity in Mangalore storage to ADNOC, while ISPRL has retained the remainder. The previous lease allowed ADNOC to sell only 35% of its oil stored in Mangalore to Indian refiners and another 15% with permission from the government. The remainder was kept for India’s needs.

India allows UAE's ADNOC to export oil from strategic reserve

In an extraordinary gesture, the UAE government lit up the iconic ADNOC building here on the occasion of the<a href="https://www.wionews.com/india-general-elections-2019/narendra-modi-takes-oath-as-prime-minister-for-second-time-222847"> swearing-in ceremony of Prime Minister Narendra Modi</a> and Council of Ministers to symbolise the close bonds of friendship and cooperation between the two nations.&nbsp;

The flags of India and the UAE and portraits of Prime Minister Narendra Modi and Abu Dhabi Crown Prince Sheikh Mohamed bin Zayed Al Nahyan were displayed on the facade of the iconic building.

The Abu Dhabi National Oil Company or ADNOC is the state-owned oil company of the United Arab Emirates.&nbsp;

India's energy security is a top priority for the UAE with ADNOC being the only foreign oil and gas company, to date, to invest in India's strategic petroleum reserves programme. ADNOC is also a stakeholder in one of India's largest refinery and petrochemical complexes, which will be constructed at Ratnagiri in Maharashtra, Khaleej Times reported.

Strategic energy co-operation between the UAE and India was bolstered in March 2019, when an Indian consortium of two companies was awarded the exploration rights for an onshore block in Abu Dhabi's debut competitive block bid round. In addition, an Indian consortium of three companies was awarded a 10 per cent participating interest in Abu Dhabi's offshore Lower Zakum concession in February 2018, it said.

Watch: Know about new entrants in team Modi 2.0

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Navdeep Singh Suri, the Indian Ambassador to the UAE, told WAM, the official news agency of the United Arab Emirates, that since the visit of prime minister Modi to UAE in August 2015, the two nations have seen a real transformation in our bilateral ties.&nbsp;

"The close friendship that has blossomed over the last four years between our Prime Minister and the Sheikh Mohamed bin Zayed is well-known. The whole world can see it today in this unique celebration of the re-election of the Prime Minister for a fresh five-year term. The ADNOC tower behind us is beautifully lit up and adorned with the flags of India and UAE and visuals of the two leaders," he said.

"But beyond the symbolism of these images is also the clear direction that the Prime Minister and the Crown Prince have provided to diplomats like us to make the India-UAE Comprehensive Strategic Partnership a truly vibrant example of what we can achieve when we work together," Suri said.

Over the last two years, Suri said bilateral ties have evolved from a simple buyer-seller relationship to a multi-faceted partnership that has led to our first strategic petroleum reserve, our first oil concessions in the Gulf and the agreement to work together in our West coast mega-refinery project.

"So, as the Prime Minister starts his second term in office, there is a tremendous sense of optimism for India-UAE ties. We now have the opportunity to build upon the strong platform that we have created over the last four years, and to make the coming period a truly Golden Era in our relationship," he said.&nbsp;

"An extraordinary gesture! the UAE government lit up the iconic ADNOC building in #AbuDhabi on the occasion of the swearing-in ceremony of PM @narendramodi and Council of Ministers," External Affairs Ministry Spokesperson Raveesh Kumar tweeted.&nbsp;

In an extraordinary gesture, the UAE government lit up the iconic ADNOC building here on the occasion of the swearing-in ceremony of Prime Minister Narendra Modi and Council of Ministers to symbolise the close bonds of friendship and cooperation between the two nations.

In an extraordinary gesture, the UAE government lit up the iconic ADNOC building here on the occasion of the swearing-in ceremony of Prime Minister Narendra Modi and Council of Ministers to symbolise the close bonds of friendship and cooperation between the two nations. The flags of India and the UAE and portraits of Prime Minister Narendra Modi and Abu Dhabi Crown Prince Sheikh Mohamed bin Zayed Al Nahyan were displayed on the facade of the iconic building. The Abu Dhabi National Oil Company or ADNOC is the state-owned oil company of the United Arab Emirates. India's energy security is a top priority for the UAE with ADNOC being the only foreign oil and gas company, to date, to invest in India's strategic petroleum reserves programme. ADNOC is also a stakeholder in one of India's largest refinery and petrochemical complexes, which will be constructed at Ratnagiri in Maharashtra, Khaleej Times reported. Strategic energy co-operation between the UAE and India was bolstered in March 2019, when an Indian consortium of two companies was awarded the exploration rights for an onshore block in Abu Dhabi's debut competitive block bid round. In addition, an Indian consortium of three companies was awarded a 10 per cent participating interest in Abu Dhabi's offshore Lower Zakum concession in February 2018, it said. Watch: Know about new entrants in team Modi 2.0 × Navdeep Singh Suri, the Indian Ambassador to the UAE, told WAM, the official news agency of the United Arab Emirates, that since the visit of prime minister Modi to UAE in August 2015, the two nations have seen a real transformation in our bilateral ties. "The close friendship that has blossomed over the last four years between our Prime Minister and the Sheikh Mohamed bin Zayed is well-known. The whole world can see it today in this unique celebration of the re-election of the Prime Minister for a fresh five-year term. The ADNOC tower behind us is beautifully lit up and adorned with the flags of India and UAE and visuals of the two leaders," he said. "But beyond the symbolism of these images is also the clear direction that the Prime Minister and the Crown Prince have provided to diplomats like us to make the India-UAE Comprehensive Strategic Partnership a truly vibrant example of what we can achieve when we work together," Suri said. Over the last two years, Suri said bilateral ties have evolved from a simple buyer-seller relationship to a multi-faceted partnership that has led to our first strategic petroleum reserve, our first oil concessions in the Gulf and the agreement to work together in our West coast mega-refinery project. "So, as the Prime Minister starts his second term in office, there is a tremendous sense of optimism for India-UAE ties. We now have the opportunity to build upon the strong platform that we have created over the last four years, and to make the coming period a truly Golden Era in our relationship," he said. "An extraordinary gesture! the UAE government lit up the iconic ADNOC building in #AbuDhabi on the occasion of the swearing-in ceremony of PM @narendramodi and Council of Ministers," External Affairs Ministry Spokesperson Raveesh Kumar tweeted.

UAE government marks PM Modi's swearing-in ceremony by lighting up iconic ADNOC building

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