The Ministry of Petroleum and Mineral Resources (MoPMR) is considering establishing a joint venture with UAE’s AIQ, an Abu Dhabi-based AI champion, to act as a specialized platform for artificial intelligence (AI) applications across the petroleum sector.
The proposed venture, to be named AIQ Egypt, would combine data from the Egypt Upstream Gateway (EUG) with AIQ’s AI technologies and local expertise to support exploration and production activities while enhancing the competitiveness of Egypt’s petroleum industry.
Talks about the proposed venture took place during a meeting between Karim Badawi, Minister of Petroleum and Mineral Resources, and Dennis Jol, CEO of AIQ, according to MoPMR’s statement. The meeting also explored broader cooperation on deploying AI and digital technologies across the oil and gas value chain.
As seen by Badawi, artificial intelligence has become a fundamental pillar of the petroleum industry’s future. Its advanced capabilities in processing and analyzing geophysical and seismic data with unprecedented speed and accuracy are enhancing decision‑making, accelerating exploration, boosting operational efficiency, and reducing costs.
Jol highlighted that AIQ’s technologies cover the upstream value chain, from subsurface analysis and exploration to drilling, production, asset management, and facility integrity. This, he stressed, achieves three primary goals: reduces production cost, maximizes operational efficiency, and increases added value across the whole value chain.
AIQ is developing a new generation of AI applications based on physics- and chemistry-driven models to improve seismic interpretation, support exploration and field development decisions, increase success rates, and reduce operational risks.
Jol boasted the fact that AIQ has successfully implemented several projects, among which is an AI-powered system for the early prediction of Electrical Submersible Pump (ESP) failures, which can forecast malfunctions up to 45 days before they occur, thereby supporting operational sustainability and minimizing production downtime. Additionally, the company developed an intelligent platform for well data management and analysis and deployed smart cameras to enhance occupational health, safety, and environmental protection (HSE).
The two sides also discussed applying artificial intelligence to hydraulic fracturing and horizontal drilling to improve well design, increase field productivity, and reduce drilling time and costs. Hydraulic fracturing is a process by which the rock is broken up, allowing the oil and gas trapped inside to flow to the well.
AIQ develops innovative solutions for the global Energy sector. Established in October 2020, AIQ is a joint venture (JV) between Abu Dhabi National Oil Company (ADNOC) and Presight, another Emirati technology company.
