Event News

ENERGYai will combine large language model technology with cutting-edge agentic AI. (Image source: Adobe Stock)

ADNOC and AIQ has announced at ADIPEC the launch of ENERGYai, the first-of-its-kind custom-built agentic artificial intelligence (AI) solution for the global energy transformation

ENERGYai will combine large language model technology with cutting-edge ‘agentic’ AI – AI ‘agents’ that are trained in specific tasks across ADNOC’s value chain. These specialised AI agents bring a new level of autonomy and precision to critical tasks, from seismic analysis to energy efficiency and real-time process monitoring. Designed for seamless integration into existing workflows, the agents harness state-of-the-art machine learning and predictive analytics, improving decision-making and operational efficiency.

This innovation underscores ADNOC’s commitment to pioneering sustainable, data-driven solutions that elevate industry standards. Developed by AIQ in collaboration with G42 and Microsoft, ENERGYai will integrate best-in-class technologies, including open subsurface data universe (OSDU) frameworks and OpenAI models.

Sultan Ahmed Al Jaber, UAE Minister of Industry and Advanced Technology and ADNOC managing director and Group CEO, said, “ENERGYai marks a major milestone in ADNOC’s journey to be the world’s most AI-enabled energy company and a key enabler of the global energy transformation. It will be a powerhouse for value creation and sustainable energy production and will leverage petabytes of data to better empower our people and unlock innovative solutions across our value chain. As AI accelerates the pace of progress and transforms industries, ENERGYai will help future-proof ADNOC, reinforce our position at the forefront of AI deployment and ensure we continue to provide secure and sustainable energy to the world.”

Peng Xiao, Group CEO of G42, said, "ENERGYai embodies G42’s commitment to transforming global energy through AI, delivering real-time, data-driven insights and deploying agentic AI to enhance efficiency, resilience, and sustainability. By combining ADNOC’s industry leadership and petabytes of historical data with G42’s advanced AI capabilities, and collaborating with Microsoft, we are creating a strong foundation for the future of energy—empowering leaders to make strategic choices that drive sustainable progress."

“Across the full value chain of traditional and renewable energy sectors, AI technologies can optimize energy usage, improve safety, reliability and efficiency, reduce emissions and accelerate low- and no-carbon energy solutions,” said Darryl Willis, corporate vice president - energy and resources industry at Microsoft. “We are pleased to be collaborating with ADNOC and AIQ in the development of AI-powered solutions that can drive economic growth, address energy security and equity, and advance a net-zero future for all.”

Trained on ADNOC’s 80 years of data, the ambitious three-year development programme for ENERGYai will begin testing with real-world datasets by the end of 2024 in a number of specific areas. It is projected that ENERGYai will accelerate by up to 75% the building of detailed geological models using very large and diverse datasets to support planning and development of large-scale CO2 storage solutions.

In development planning, ENERGYai will accelerate plans from 1-2 years to weeks, minimising costs and emissions in the process. ENERGYai can analyse multiple scenarios in parallel and this ability to run detailed, highly advanced simulations across all variables helps make faster and more accurate decisions. Further along the value chain in the downstream business, the platform's future-proof and scalable design integrates seamlessly with ADNOC’s existing technologies and platforms.

The three-day Finance & Investment Conference at ADIPEC has four main themes. (Image source: ADIPEC)

ADIPEC 2024 will highlight the critical role of finance in accelerating the transition to a secure, equitable and sustainable energy future, through its inaugural Finance & Investment Conference

Held from 4-7 November in Abu Dhabi, ADIPEC will gather financial leaders, policymakers, and energy executives to unlock the capital required for scaling low-carbon technologies and fast-tracking decarbonisation initiatives.

The three-day Finance & Investment Conference at ADIPEC has four main themes: Mobilising investment for a sustainable future; Navigating uncertain geopolitical factors to secure energy transition investment; Ensuring bankability of clean energy projects and technologies, and Meeting the growing demand for resilient and clean energy in developing countries.

In alignment with these themes, the conference will feature sessions led by global experts to activate investment needed to fast-track the global energy transition, including navigating macroeconomic volatility, unlocking capital for emerging markets, and developing regulatory frameworks that support decarbonisation technologies.

Key speakers will include Charlie Tan, CEO, Global Impact Coalition; Mazin Khan, CFO, Masdar; Julian Mylchreest, executive vice chairman, Bank of America; Lina Osman, managing director and head, Sustainable Finance - Africa and MENAP, Standard Chartered; Semih Ozkan, executive director, EMEA Energy, Power, Renewables, Metals & Mining, JP Morgan, and Zoe Knight, group head, Centre of Sustainable Finance, Head of Climate Change MENAT, HSBC, who will jointly discuss solutions to the financing challenges faced by developing economies in their energy transition efforts.

Addressing critical gaps

Sharing his extensive expertise in securing investment within the energy and renewables sectors, Charlie Tan, CEO, Global Impact Coalition, said, “Achieving net-zero emissions requires ambition, financial frameworks and innovative investment models that can make decarbonisation viable from both a sustainability and commercial angle. As a global energy leader, Abu Dhabi provides the perfect stage for hosting ADIPEC’s critical conversations on bridging the gap between ambition and action in the broader energy transition.

“At ADIPEC 2024, we will focus on how public and private sectors can join forces to scale up financing for clean energy, ensuring long-term growth and environmental impact. The event will empower financial and energy experts to take decisive action, leveraging and allocating capital to where it’s needed most to deliver economic prosperity and environmental sustainability."

Christopher Hudson, President of dmg events, the organiser of ADIPEC, said, “One of the most significant barriers to achieving an equitable energy transition is the gap in clean energy finance and investment between the Global North and South. Developed nations have more financial resources while emerging markets need help to secure capital for large clean energy projects, slowing the transition and deepening regional inequalities.

“Addressing the finance gap between the Global North and South is one of the key focus areas of our new Finance and Investment Conference. Discussions held at ADIPEC 2024 will set the stage for how finance can play a transformative role in ensuring that we meet our decarbonisation goals while continuing to drive sustainable economic growth for generations to come and advance an equitable energy transition for all.”

Although the energy transition offers significant investment potential, a critical gap exists between capital flows, with the International Renewable Energy Agency estimating US$35 trillion as being required by 2030 to facilitate a fair and systemic energy transition, creating challenges for governments, energy companies, and financial institutions in providing the necessary funding.

The collaboration will focus on leveraging advanced technologies in the energy sector. (Image source: AIQ)

Artificial intelligence solutions providers AIQ and Inception have signed an agreement to drive technology innovation and transformation in the energy sector

Announced at GITEX Global 2024 in Dubai, the partnership will aim to enhance efficiency, improve safety and sustainability, and reduce costs through revolutionary near-real time data processing, advanced multi-modal insights, and AI-assisted automation across the entire energy value chain.

“Joining forces with Inception in this strategic partnership will see AIQ unlock new opportunities for growth and transformation in the Energy sector, pushing the boundaries of AI innovation and driving real, impactful change,” said Magzhan Kenesbai, acting managing director at AIQ. “This collaboration is testament to our commitment to enhancing productivity and sustainability, while reinforcing the UAE’s position as a global hub for technological excellence.”

Ashish Koshy, chief operating officer of Inception, said, “Our partnership with AIQ marks a defining moment in how artificial intelligence combined with domain expertise can accelerate innovation in the Energy sector. By combining our expertise in large language and advanced AI models with AIQ’s industry expertise and proven track record in the Energy sector, we are confident that together we will deliver solutions that will set new standards for operational excellence, efficiency, and sustainability. Our partnership with AIQ marks a defining moment in how artificial intelligence can accelerate innovation in the energy sector.”

The collaboration will focus on leveraging advanced technologies that enable faster decision-making and improve real-time data processing capabilities, empowering the energy sector to navigate the complexities and demands of operations with greater intelligence and agility. As part of the agreement, both companies will also explore opportunities to enhance AI models and accelerate the deployment of AI solutions across the energy value chain.

Libya's newly appointed Minister of Oil & Gas, Khalifa Abdulsadek. (Image source: African Energy Chamber)

Libya is all geared up to present to Italy its robust oil & gas plan at a half-day strategic programme called the Libya-Italy Roundtable and VIP Networking Evening in Rome

As a primary importer from a top oil-reserve holder, Italy's relationship with Libya dates back to 1959, when Eni first started its operations in the region. With natural gas demand currently fuelling the market as the cleaner alternative to oil, Libya has set off a robust gas monetisation plan. The latest development of Eni's partnership with Libya’s National Oil Corporation (NOC) includes the initiation of supervision and the subsea intervention services of the GreenStream pipeline that has been put on place to direct gas from the Bahr Essalam and Bouri fields to be delivered to European markets. Defined as the GreenStream BV, the partnership has entrusted Saipem with an extensive contract scope ranging from integrating survey data and critical spares, specialised engineering services related to asset integrity and readiness services for repair interventions in case of a wide range of damage scenarios. 

The Bahr Essalam and Bouri offshore fields, along with onshore fields in the Sirte Basin, are operated by Mellitah Oil & Gas – a joint venture between Eni and the NOC. A prime source for its gas market, Italy is heavily invested in the development of the one-billion-dollar, offshore subsea Bouri Gas Utilisation Project, which aims to capture associated gas from two offshore platforms at the Bouri field development. The ejected gas will then be transported to the Mellitah Complex – a major hub for gas production, processing and export – and delivered to European markets once production begins in 2026. 

With a plan to increase the utilisation of pipeline capacity up from 25%, the partners have further signed an US$8bn gas production deal to develop two offshore gas fields – Structures A and E – set to produce 750 mn cu/ft of gas per day by 2026. Signed last year, this has been designed to serve not only the international, but also the domestic market.

Decarbonisation of the sector remains crucial for Libya, as the country is aiming 12 new projects to reduce and convert flared gas to green ammonia and power for export. To bring this alive, however, requires an estimated US$4bn in local infrastructure improvements as reported by Wood Mackenzie.

Licensing round in 2025

To further exploration activities, Libya is preparing to open an oil and gas licensing round early-2025, targeting concessions in the Murzuq, Ghadames and Sirte basins. The country's newly appointed Minister of Oil & Gas, Khalifa Abdulsadek, is eyeing international events such as African Energy Week after Gastech for its promotion. “We are open for business and looking for investors,” he said. 

This comes at a time when the region is already garnering investor interests as expressed by more than 30 companies in its marginal assets alone. With an aim to produce 2 mn boe and 4 bn cu/ft of natural gas per day within the next three to five years, the NOC has ramped up maintenance work, targeting enhanced production from at least 36 wells, and kickstarted a US$17-US$18bn initiative for the identification of 45 greenfield and brownfield projects to meet production goals. A recent gas discovery has also been reported by Sirte Oil. 

A consortium comprising Eni, TotalEnergies and Abu Dhabi National Oil Company is also developing and exploring oil and gas fields in the NC-7 block in the Ghadames Basin, targeting 2.7 trillion cu/ft of gas to boost domestic production. In May this year, US$1.23bn was allocated to develop the NC-7 block – operated by a consortium led by Italian multinational energy company Eni – with a view to monetising 2.7 trillion cu/ft of gas in the Ghadames Basin.