Signing of the memorandum of understanding on digitalization of oil wells

The agreement on the digitalization of oil wells of joint cooperation with the aim of improving the productivity of oil facilities by using artificial intelligence was signed between the Scientific Vice-Chancellor and the Sharq Oil and Gas Exploitation Company and the contractor company of this project.

The purpose of signing this memorandum is to develop oil well digitization technology with the aim of increasing production efficiency and sustainability. This agreement is based on the implementation of this smart plan in the operational area of ​​Najiran and the pipelines of Sharq Oil and Gas Exploitation Company, by Akbar Zamaniyan, the Secretary of Economic Development of the Energy Foundation, Scientific Vice President, and Farshid Khyberi, the CEO of Sharq Oil and Gas Exploitation Company and CEO. Behpuyan Amin Montazer company was signed.

Among the clauses of the understanding in this plan, providing a comprehensive solution for the implementation of intelligent systems in oil facilities, improving production stability, improving the efficiency of oil facilities by making them more intelligent, increasing the resilience of facilities, improving the country's scientific position in artificial intelligence and reducing well energy consumption. is

In this agreement, the Scientific Vice-Chancellor is committed to facilitating the implementation of the project, facilitating the issuance of licenses and providing the possibility of issuing guarantees and facilitating banking processes for the development of the market for this product after its development is completed.

Sharq Oil and Gas Company has committed to providing the funds needed for the project of digitalization of oil wells.

It should be mentioned that investment in the development of advanced technologies related to oil exploration and extraction has been significantly developed with the support of the Scientific Vice-Chancellor. The mentioned contract is the continuation of the serious investment of the Scientific Vice-Chancellor in technologies related to the electronics and oil industries.