AIQ to showcase AR360 solution at SLB Digital Forum global industry event

• Industry partner event gathers representatives from organizations responsible for approximately 70% of the world’s hydrocarbon production
• AIQ and SLB first entered a strategic partnership in 2021, and announced deployment of AR360 in November 2023
• AIQ set to participate in technical sessions that showcase the company’s expanding expertise in Field Development Planning,  Reservoir Management,  and more

Abu Dhabi, UAE – 5 September 2024: AIQ, the Abu Dhabi-based AI champion delivering transformative solutions to the Energy sector, announces its inaugural participation in the SLB Digital Forum 2024 taking place in Monaco between 16-19 September. AIQ is a Platinum Sponsor.

The Forum takes place every two years and gathers representatives from organizations responsible for approximately 70% of the world’s hydrocarbon production. This year, more than 1,400 industry leaders, scientists and engineers are set to participate in the four-day program, representing as many as 200 companies.

AIQ’s participation in the Digital Forum signifies the acceleration of the company’s international development following the acquisition of a majority stake by listed UAE AI, big data analytics leader, Presight (ADX: Presight), announced in May 2024. AIQ will showcase its Advanced Reservoir 360 (AR360) solution in Monaco, which was developed in collaboration with SLB, with deployment of the tool announced in November 2023.

AR360 performs reservoir analysis and supports field development, driving optimization within upstream exploration and operations, enabling greater efficiency, and reducing operational energy use. It has since been deployed in reservoirs across ADNOC upstream operations.

Commenting on AIQ’s presence at SLB Digital Forum, Dr. Chris Cooper, CEO of AIQ said, “Partnership and collaboration with leading technology innovators is a cornerstone of our development, so it is important for us to participate at events such as the Forum and showcase the progress we have made in our few short years of existence. We have been undertaking transformational work with SLB with regards the development of advanced solutions for optimizing Field Development Plans (FDPs) across multiple reservoirs and fields, and we look forward to detailing this progress and more, and engaging positively with a global audience in Monaco.”

Mohammed Ali Khan, AIQ’s Senior Vice President – Sales & Customer Success said, “This is AIQ’s first participation at a major global event in Europe, and we invite Energy companies and technology innovators to meet with us to consider possible areas of collaboration. We have a clear mandate to take our UAE-developed technology, global, on our mission to drive operational efficiencies to the heart of the Energy sector, while also supporting the advancement of sustainability and energy transition agendas.”

While at the Forum, Dr. Chris Cooper, will take part in a senior level panel discussion entitled ‘Discovery to Development – Navigating a new era,’ which will consider how high-performance compute and AI are helping convert resource exploration answers to hours, rather than months, as was historically the case.

Nidhal Belayouni, Lead Data Scientist at AIQ will deliver two technical presentations during the Forum; one on Data Driven Reservoir Insights and Value Enhancement (DRIVE) - an advanced solution for optimizing FDPs, developed in collaboration with SLB; and one on AR360.