He emphasized that this strategy not only improves the performance of the oil industry but also prevents technological surprises.

Speaking at the opening ceremony of the Third Petrotech Conference on Sunday, Hamid Bovard highlighted that leveraging advanced technologies is the shortcut to overcoming the country's economic challenges.

Over the past six months, more than 15 meetings have been held with technologists, elites, and talented young individuals, and the research and engineering departments of the oil company have also achieved notable outcomes in this regard.

Bovard outlined two main technology strategies for NIOC. The first strategy focuses on improving organizational performance through modern technologies, which leads to time and cost reductions and enhanced quality.

The second strategy aims to prevent technological surprises, as the rapid advancement of technology globally could pose serious challenges for the country without proper planning.

AI in oil reservoir management

Bovard noted that precise planning in various fields, particularly AI, is a priority for the company. One of the most important projects is the use of AI in oil reservoir management. Recently, a meeting was held with an Iranian expert, and collaborations in this area have begun.

He pointed out that a neighboring country has managed over 25% of its oil fields using AI technologies, resulting in at least an 80% increase in production. Bovard expressed hope that similar initiatives would soon be implemented domestically.

He also mentioned that NIOC’s digitalization plan, utilizing smart technologies, will soon be operational. Bovard invited all technology experts and elites to submit their proposals and ideas, adding that an official call for collaboration with knowledge-based companies will be announced soon to leverage their capabilities.

Increasing oil recovery through technological solutions

Bovard identified the implementation of new technologies as one of the main challenges in this journey. He noted that many knowledge-based companies face operational difficulties despite offering valuable technologies. To address this, NIOC has planned to take charge of implementing technologies provided by these companies and apply them in oil fields and operational laboratories.

He also highlighted the issue of oil recovery rates, stating that the average recovery rate from oil fields in southern Iran is around 25%. However, this figure can be increased through technological solutions.

Bovard stressed the need for broader collaboration between the oil industry and the technology sector, urging all stakeholders to actively participate in the smart development of the oil industry.

Embracing global technologies

Bovard emphasized the importance of adopting cutting-edge global technologies, stating that NIOC welcomes any ideas that can assist in this endeavor. He revealed that NIOC is collaborating with an Austrian university on the use of advanced global technologies.

He added that beyond smart machine management, there is a need for new technologies to enhance productivity and increase production, which will benefit the country’s economy and ensure the sustainability of the organization.