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Gazprom Neft and AIQ to develop digital technologies for the oil and gas industry

Gazprom Neft and AIQ (a joint venture between ADNOC and Group 42) have agreed to cooperate in developing and commercialising digital solutions for the fuel and energy industry, under a Memorandum of Understanding signed by Alexei Vashkevich, Director for Technological Development, Gazprom Neft, and Omar Al Marzooqi, CEO, AIQ.

The partners will bring together their competencies, experience and expertise to develop digital products for hydrocarbon exploration and production using cognitive technologies and artificial intelligence (AI), with the two companies planning to develop new IT tools and solutions and commercialise these in domestic (Russian) and Middle Eastern markets.

With AIQ’s involvement, Gazprom Neft intends to promote its digital-optimisation cognitive solutions on the Middle Eastern market — including, for example, the industry’s first high-tech well-construction cost-optimisation programme. This technology makes it possible to determine rock types at depths of several kilometres, through surrogate parameters sourced from drilling equipment, in real time — meaning wells can be constructed faster and more accurately in narrow oil formations, reducing operational drilling costs.

As well as commercialising ready-made digital solutions together, Gazprom Neft and AIQ will be developing software for optimising oil-industry business processes, going forward.

Gazprom Neft sees the Middle East as one of its priority markets for promoting its proprietary technological products, having presented these — together with various digital projects — at the SPE Annual Technical Conference and Exhibition (ATCE, the most important industry event in the world) in the United Arab Emirates.

“The global oil and gas industry has no limits in terms of rolling-out technologies, and sharing knowledge and experience never stops. This means we can cope with the challenges we all face, and develop new solutions. We have already seen how our technological and IT products are generating interest among many industry players, including in the Middle East. This agreement with AIQ opens up new opportunities for developing our digital technologies, and for fine-tuning these in line with the environment and needs of a specific region, as well as creating opportunities for developing and commercialising our own products.”
Alexei Vashkevich
Alexei Vashkevich Director for Technological Development, Gazprom Neft
“We are excited by this new partnership between AIQ and Gazprom Neft, facilitating cooperation between two key energy companies. We are committed to developing breakthrough technologies that will add value and create growth opportunities for our business. As the UAE moves towards energy transition we are delighted that many international companies are ever increasingly seeing Abu Dhabi as a centre for world-class AI and digital technologies.”
Omar Al Marzooqi
Omar Al Marzooqi CEO, AIQ
Notes for editors

AIQ is a joint venture between ADNOC (Abu Dhabi’s national oil company) and Group 42 (a major digital IT company in Abu Dhabi), established in 2019 to address the development of digital solutions for the oil and gas industry.

Abu Dhabi National Oil Company (ADNOC) is the United Arab Emirates’ state oil company. It is the 12th largest oil company in the world in terms of production volumes, and the largest oil company in the UAE. As of 2021, the company’s oil production capacity stands at more than four million barrels per day, and is expected to increase to 5 million barrels per day by 2030.

Gazprom Neft is a vertically integrated oil company. Key activities include: oil and gas exploration and production, oil refining, and the production and sale of petroleum products. Gazprom Neft is one of Russia’s top three companies in terms of oil production and refining. Gazprom Neft’s corporate structure encompasses more than 70 exploration and production, refining, and retailing enterprises throughout Russia, the CIS and the rest of the world. The company operates across 110 countries, worldwide. Gazprom Neft’s filling station network currently totals more than 2,000 outlets throughout Russia, the CIS and Europe. Gazprom Neft is one of the Russian oil industry’s leading companies in terms of efficiency. Company revenues in 2020 were ₽2 trillion, adjusted EBITDA ₽485 billion, and net profit ₽117.7 billion. Gazprom Neft’s largest shareholder is Gazprom PJSC, which holds a 95.68 % interest. The company’s remaining shares are floated on the world’s leading international stock markets.

Gazprom Neft and Abu Dhabi National Oil Company (ADNOC) agreed on strategic cooperation in in October 2019. Jointly developing information technologies and artificial intelligence (AI) is a priority area of activity for both parties.