Abu Dhabi National Oil Company (ADNOC) announced on Tuesday that it reaped an additional $500 million in value during 2023 through the strategic application of artificial intelligence (AI). The state oil giant emphasized that this added value was a result of seamlessly integrating over 30 industry-leading AI tools throughout ADNOC’s entire value chain, from field operations to enhanced corporate decision-making processes.
AI’s Impact on Sustainability: Beyond financial gains, ADNOC reported that the use of AI in its operations contributed to preventing up to 1 million tons of carbon dioxide emissions between 2022 and 2023. The incorporation of AI in ADNOC’s processes aligns with the company’s commitment to sustainable practices and environmental responsibility.
Strategic AI Integration: ADNOC’s CEO, Sultan Al Jaber, highlighted the significance of integrating AI to ensure a secure, reliable, and responsible supply of energy. By using AI tools, ADNOC aims to future-proof its business operations and extract greater, more sustainable value from its assets and resources. The company has strategically implemented AI in various aspects of its operations, including production activities, reservoir management, and capacity expansion.
AIQ and Collaborative Efforts: ADNOC has employed AI tools developed by AIQ, a joint venture formed with Abu Dhabi-based artificial intelligence company G42. Chief Technology Officer Sophie Hildebrand emphasized that these initiatives led to greater automation, process optimization, efficiency improvements, and tangible enhancements in capital expenditure (cap ex), operating expenditure (op ex), working capital, and production outcomes.
Hildebrand noted the dynamic nature of technology growth, stating that ADNOC’s ability to leverage AI capabilities will expand alongside technological advancements. While declining to provide specific figures, she expressed optimism that the value generated by AI would continue to rise.
Investors, industry experts, and environmental advocates are likely to closely monitor ADNOC’s continued integration of AI technologies, expecting it to yield further operational efficiencies and sustainability benefits.
