Adnoc
Assembly Line
ADNOC Deploys Pioneering AI-Enabled Process Optimization Technology
ADNOC announced today the deployment of an industry leading artificial intelligence (AI)-enabled process optimization technology. Neuron 5 was developed by ADNOC and has been initially deployed at ADNOC Onshore’s Northeast Bab (NEB) field and ADNOC Gas’s Taweelah gas compression plant across hundreds of pieces of equipment. Following the successful initial deployment, Neuron 5 will now be rolled out in all ADNOC facilities across thousands of critical pieces of equipment essential for production, including compressors, valves and generators.
The innovative solution autonomously monitors performance of critical equipment, enabling process optimization and preventative maintenance, reducing operational downtime, boosting efficiency and reducing the need for time-consuming manual inspections. Neuron 5 uses advanced AI models and deep learning algorithms to predict maintenance needs and monitor equipment performance by interpreting data, such as pressure, temperature and vibration, received from sensors on critical equipment.
Covestro AG enters into concrete negotiations with Adnoc regarding a potential transaction
Based on the open-ended talks held so far with Abu Dhabi National Oil Company (Adnoc) the Board of Management of Covestro AG after consultation with the Supervisory Board has decided to enter into concrete negotiations with Adnoc regarding a potential transaction and the potential conclusion of an investment agreement as well as to allow for an adequate exchange of company information to confirm assumptions (confirmatory due diligence).
Starting point for the negotiations is a possible offer price of €62 per Covestro share that Adnoc has indicated to Covestro, which is subject, among other things, to the results of the confirmatory due diligence and agreement on the content of an investment agreement.