Weatherford and AIQ Sign Strategic Partnership to Accelerate Efficiency in Energy Production

Rhea-AI Summary

Weatherford International (NASDAQ: WFRD) has announced a strategic partnership with Abu Dhabi-based AIQ to enhance energy production efficiency through AI technology integration. The collaboration will combine Weatherford's software and hardware solutions with AIQ's AI systems to optimize production workflows and reduce operational downtime.

The partnership focuses on three key areas:

• Modern Edge Integration: Combining AIQ's AI technology with Weatherford's Modern Edge for scalable work processes and autonomous production
• Unified Data Model: Integration of Weatherford's Universal Normalizer with AIQ's capabilities for harmonized multi-asset data analysis
• WFRD Software Launchpad: A comprehensive industrial SaaS platform providing single-point access to all applications

This strategic alliance aims to deliver cutting-edge solutions that enable operators to maximize operational efficiency, enhance automation, and reduce costs in the energy sector.

Positive

• Strategic partnership enhances WFRD's AI capabilities and market position
• New SaaS platform creates potential recurring revenue stream
• Integration of technologies may lead to increased operational efficiency and cost reduction
• Partnership expands WFRD's presence in the Middle East market

Negative

• Implementation costs and timeline not disclosed
• Return on investment and revenue impact not specified

HOUSTON, April 21, 2025 (GLOBE NEWSWIRE) -- Weatherford International plc (NASDAQ: WFRD) (“Weatherford” or the “Company”) today announced it has signed a strategic Memorandum of Understanding (MOU) with AIQ, the Abu Dhabi-based artificial intelligence (AI) champion developing innovative solutions for the energy sector. This partnership is set to bring transformative efficiency to energy production, leveraging advanced automation, data-driven insights, and the power of AI technology.

The collaboration aims to integrate Weatherford's world-class software and hardware solutions, including the Modern Edge suite, Unified Data Model, and WFRD Software Launchpad, with AIQ's robust AI-driven systems. By combining these advanced tools, Weatherford and AIQ will enable operators to optimize their production workflows, reduce downtime, and significantly enhance operational efficiency across global oil and gas facilities.

Girish Saligram, President and Chief Executive Officer of Weatherford, commented, “We are excited to partner with AIQ to bring innovative, AI-driven solutions to the oil and gas industry. This strategic partnership allows us to deliver cutting-edge technologies that empower our customers to maximize their operational efficiency, enhance automation, and reduce costs. By combining our strengths, we are leading the way in helping operators modernize their workflows and achieve greater success in today’s rapidly evolving energy landscape.”

Magzhan Kenesbai, Acting Managing Director of AIQ, said, “This partnership marks another step in AIQ’s mission to build partnerships that accelerate the deployment of impactful AI systems across the energy value chain. By integrating our advanced AI-driven tools with Weatherford's energy-specific technology, we are driving greater efficiencies to the industry through the development of scalable, automated applications. Together, we are set to empower operators to optimize their workflows, reduce downtime, and achieve unparalleled operational excellence.”

Key Highlights of the Strategic Partnership:

1. Modern Edge Integration: The partnership will combine AIQ's AI technology with Weatherford's Modern Edge, providing operators with the ability to scale their work processes efficiently while ensuring an economic return. This integration will empower customers to modernize their edge operations, facilitate autonomous production, and offer the flexibility to expand operations, all while optimizing resource usage and reducing costs.
2. Unified Data Model: Weatherford’s Universal Normalizer will work in tandem with AIQ’s capabilities to harmonize multi-asset data, combining operational and financial analysis into a unified, API-supported data model. This will drive smarter decision-making and streamline operations across facilities.
3. WFRD Software Launchpad: Through the WFRD Software Launchpad, customers will gain the ability to procure all of their software needs via a comprehensive industrial SaaS platform. This eliminates the complexity of managing multiple systems and vendors, providing a single point of access for all Weatherford and partner-built applications, while ensuring data security and autonomy within their own network.
   

By combining their strengths, Weatherford and AIQ will enable the energy sector to unlock unprecedented efficiencies, boost productivity, and reduce operational costs. This partnership is a significant step forward in Weatherford’s commitment to delivering cutting-edge solutions that empower operators to succeed in an increasingly competitive and data-driven industry.

About Weatherford

Weatherford delivers innovative energy services that integrate proven technologies with advanced digitalization to create sustainable offerings for maximized value and return on investment. Our world-class experts partner with customers to optimize their resources and realize the full potential of their assets. Operators choose us for strategic solutions that add efficiency, flexibility, and responsibility to any energy operation. The Company conducts business in approximately 75 countries and has approximately 19,000 team members representing more than 110 nationalities and 330 operating locations. Visit weatherford.com for more information and connect with us on social media.

Contacts
For Investors:
Luke Lemoine
Senior Vice President, Corporate Development & Investor Relations
+1 713-836-7777
investor.relations@weatherford.com

For Media:
Kelley Hughes
Senior Director, Communications & Employee Engagement
media@weatherford.com

About AIQ

AIQ is an innovative global technology pioneer based in Abu Dhabi, dedicated to accelerating AI-driven advancements within the Energy sector, propelling it towards a sustainable future. AIQ solutions improve performance and efficiency; protect personnel, assets, and operations; and enable customers to meet their sustainability goals. As a committed contributor to realizing the UAE's ambition to lead the world in AI by 2031, AIQ is playing a pivotal role in the AI ecosystem of Abu Dhabi, the UAE, and the global Energy sector. To find out more, visit: aiqintelligence.ae/

For media enquiries, please contact: aiq.communications@aiqintelligence.ai

FAQ

What are the key benefits of Weatherford's (WFRD) partnership with AIQ?

The partnership combines WFRD's software solutions with AIQ's AI systems to optimize production workflows, reduce downtime, enhance operational efficiency, and lower costs for energy operators.

How will the Modern Edge integration affect WFRD's operations?

The Modern Edge integration will enable scalable work processes, autonomous production capabilities, and expanded operations while optimizing resource usage and reducing costs.

What is the WFRD Software Launchpad offering in this partnership?

The WFRD Software Launchpad is a comprehensive industrial SaaS platform providing single-point access to all Weatherford and partner applications, simplifying system management while ensuring data security.

How does the Unified Data Model benefit WFRD customers?

The Unified Data Model combines operational and financial analysis into a single API-supported platform, enabling smarter decision-making and streamlined operations across facilities.