Egypt’s Ministry of Petroleum and Mineral Resources is considering establishing a joint venture with Abu Dhabi-based AIQ to serve as a specialized platform for AI applications across the country’s petroleum sector.
The proposed venture, to be named AIQ Egypt, would combine data from the Egypt Upstream Gateway with AIQ’s AI technologies and local expertise to support exploration and production while strengthening the competitiveness of Egypt’s petroleum industry.
Talks took place during a meeting between Karim Badawi, minister of petroleum and mineral resources, and Dennis Jol, chief executive of AIQ, according to a ministry statement. The two also explored broader cooperation on deploying AI and digital technologies across the oil and gas value chain.
Badawi said AI has become a fundamental pillar of the petroleum industry’s future, with capabilities to process and analyze geophysical and seismic data at speed and accuracy that improve decision-making, accelerate exploration, boost operational efficiency and reduce costs.
Jol said AIQ’s technologies cover the upstream value chain, from subsurface analysis and exploration to drilling, production, asset management and facility integrity, with the aim of reducing production costs, maximizing efficiency and increasing added value across the chain. He said the company is developing a generation of AI applications based on physics- and chemistry-driven models to improve seismic interpretation, support exploration and field development decisions, raise success rates and reduce operational risks.
Among AIQ’s projects, Jol said, is an AI-powered system that predicts electrical submersible pump failures up to 45 days in advance, supporting operational continuity and minimizing production downtime. The company has also developed an intelligent platform for well data management and analysis and deployed smart cameras to improve health, safety and environmental protection.
The two sides discussed applying AI to hydraulic fracturing and horizontal drilling to improve well design, increase field productivity and reduce drilling time and costs. Hydraulic fracturing is a process in which rock is broken up to allow trapped oil and gas to flow to the well.
Established in October 2020, AIQ develops AI solutions for the global energy sector and is a joint venture between Abu Dhabi National Oil Company and Presight, another Emirati technology company.
