Abu Dhabi: Minister of Petroleum and Mineral Resources Karim Badawy and UAE’s Dragon Oil CEO Ali Rashid Al-Jarwan witnessed the signing of a memorandum of understanding (MoU) aimed at utilizing artificial intelligence (AI) to increase oil production in the Gulf of Suez.

According to State Information Service Egypt, the agreement was formalized by Moataz Atef, spokesman for the Petroleum and Mineral Resources Ministry, and Farid Al Hashmi, Chief Operating Officer of Dragon Oil in Egypt and Iraq. The signing took place on the sidelines of the Abu Dhabi International Petroleum Exhibition and Conference (ADIPEC), held at the Abu Dhabi National Exhibition Centre (ADNEC).

In addition to the signing, Minister Badawy engaged in discussions with Al-Jarwan to assess the progress of Dragon Oil’s current operations in Egypt and explore strategies to enhance production rates of oil and natural gas. Al-Jarwan expressed a strong interest in expanding the company’s future operations in Egypt, particularly within the Gulf
of Suez region.