
UAE-based technology incubator AIQ and Colombia’s national oil company Ecopetrol have signed a strategic collaboration agreement to deploy AIQ’s AI solutions in Ecopetrol’s operations, AIQ announced on Sunday.
Based in Abu Dhabi, AIQ holds more than 16 patents related to AI tools for the energy sector, including RoboWell, the world’s first autonomous control system for gas-lifted wells, and AR360, a reservoir visualisation and performance monitoring system that uses AI to optimise field development plans.
“This agreement confirms our progress in seeking opportunities to work with customers beyond the UAE. Ecopetrol is a highly experienced and well-regarded national oil company, and the fact that we have been selected is a major endorsement of the credibility we have established in just over four years of operation. We look forward to exploring AI solutions we might provide to support the company’s operational and strategic goals,” said Magzhan Kenesbai, acting managing director of AIQ
Ecopetrol is responsible for more than 60% of Colombia’s oil and gas production and carries out exploration and production activities in Brazil, Peru and the US Gulf of Mexico. Its downstream and midstream assets include Colombia’s largest refinery and the majority of the country’s oil and multipurpose pipelines
The agreement will initially last for 24 months, with the possibility of extensions by mutual agreement by the parties.
Source: theenergyyear.com