United Arab Emirates to Experiment with Artificial Intelligence in Oil Production
Emirates group AD Ports will improve logistics and related infrastructure in Pakistan
Increasingly advanced technologies are being utilized in more traditional sectors, including oil production. UAE oil company Dragon Oil, based in Dubai, has signed a memorandum of understanding with Egypt’s Ministry of Petroleum and Mineral Resources (pictured) “to collaborate on the use of advanced artificial intelligence (AI) applications to improve the efficiency and sustainability of oil production in this North African country.”
According to a press release distributed by Dragon Oil along with this memorandum, artificial intelligence “will be utilized in the offshore oil fields provided by Dragon Oil in the waters of the Gulf of Suez to improve data exploration conditions, simplify field operations, and enhance reservoir management strategies.”
The important agreement, the first of its kind for Egypt, was signed in the presence of Egyptian Minister of Petroleum and Mineral Resources Karim Badawy, the ministry’s chief representative Moataz Atef, and Farid Al-Hashmi, CEO of Dragon Oil’s Egypt and Iraq subsidiary. Minister Badawy also held a conversation with the CEO of Dragon Oil Company, Ali Rashid Al-Jarwan, during which he expressed satisfaction with the Emirati company’s progress in Egypt and ways to increase the rate of oil and natural gas production in the global facilities operated by Dragon Oil.
The UAE is paying close attention to the development of logistics infrastructure in the Greater Middle East. In this context, Emirates-based AD Ports Group has signed a number of agreements and memoranda of understanding with the Pakistani government in Islamabad, aimed at increasing the group’s strategic involvement in the country’s growing transportation and logistics sector. The two sides agreed to “cooperate in key areas such as maritime, air transportation, rail logistics, and digital services.” The documents were signed in the presence of Pakistani Prime Minister Muhammad Shehbaz Sharif and UAE Minister of State for Foreign Trade Thani bin Ahmed Al-Zeyoudi.
