UAE energy-technology company AIQ has signed an agreement to enter India’s oil and gas sector, with plans to deploy technology across the refineries, fuel stations and digital stores of an unnamed Indian oil and gas conglomerate. The September 30, 2026 report does not identify the customer or disclose the deal’s value, duration, rollout date or specific products.
What AIQ’s India agreement covers
AIQ CEO Dennis Jol described a deployment spanning the Indian conglomerate’s refineries, fuel stations and digital stores. That signals a broad enterprise engagement across several parts of an energy business, but the public description does not specify which AIQ systems or workflows will be used at each site. Moneycontrol’s September 30, 2026 report, which credits Reuters inputs, does not name the conglomerate.
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The report also leaves key commercial details undisclosed:
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- The customer’s identity
- The agreement’s value and duration
- When deployment will begin or how long rollout will take
- Which AIQ products, services or use cases are included
Without those details, the agreement establishes a route into the Indian oil and gas market, not the scale or economics of AIQ’s expected business there.
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How the deal differs from ADNOC’s other India agreements
ADNOC announced two India collaborations on May 15, 2026, but neither is the AIQ software agreement. One was with Indian Strategic Petroleum Reserves Limited on crude, LNG and LPG storage and strategic reserves; the other was with Indian Oil Corporation on expanded LPG supply and trading. ADNOC’s announcement describes energy storage and supply cooperation, rather than AIQ’s technology deployment.
The distinction matters: AIQ is entering through an enterprise technology agreement, while ADNOC’s separately announced arrangements concern physical energy supply and infrastructure.
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Who owns AIQ, and how established is its international business?
ADNOC’s May 1, 2024 announcement said Presight would hold 51% of AIQ and ADNOC would retain 49%, describing AIQ as a standalone company in Presight’s portfolio. Those are the shares in that dated announcement; it does not establish whether the structure has changed since. ADNOC’s ownership announcement also said AIQ had more than 20 AI applications and 16 patents.
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A free scan shows the junk files, broken settings and background clutter dragging Windows down - then fixes them in one click.Free scan · Windows 10 & 11Jol told Moneycontrol that AIQ had begun exporting technology 12 to 15 months before the September 30, 2026 report. At the time of that report, the company was operating in North America, Kazakhstan, Egypt, Colombia, Malaysia, Vietnam and Kuwait. These are figures and market descriptions attributed to the CEO, not a separate measure of how much revenue AIQ earns in each country.
The same report said customers other than ADNOC accounted for about 5% of AIQ’s business at that time, indicating that its business remained heavily concentrated around its founding parent. CTO Saravan Penubarthi described the expansion effort this way: “At the end of the day, you need an entry into this international market, which we are trying to focus on right now.”
What AIQ’s ADNOC work can—and cannot—tell us
AIQ’s earlier work with ADNOC provides context for the kind of enterprise deployment the company has undertaken, but it does not reveal the Indian agreement’s scope. In a March 10, 2025 release, AIQ described a separate three-year, $340 million contract with ADNOC for ENERGYai and related solutions across ADNOC’s upstream value chain. The stated target tasks included seismic analysis, geological modeling and real-time process monitoring. AIQ said the deployment uses large language models, agentic AI, Azure cloud technologies, the OSDU framework and OpenAI models. AIQ’s contract announcement concerns ADNOC’s operations, not the unnamed Indian customer.
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A separate AIQ release in August 2025 described collaboration with SLB on ENERGYai workflows for ADNOC subsurface operations. In a test environment using 15% of ADNOC’s data and two fields, AIQ reported that a seismic agent achieved a 10x increase in interpretation speed and a 70% increase in precision. Those are company-reported results from that specific test context, not independent measurements or results from India. AIQ’s SLB collaboration release gives the test details.
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The Indian agreement is less detailed publicly than AIQ’s announced ADNOC contract: it names neither the customer nor a price, term, product list or deployment schedule. That difference in disclosure does not show that the Indian deal is smaller or uses different technology; it simply limits what can be concluded from the available terms.
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For now, the clearest takeaway is strategic: the agreement gives AIQ an entry point into a major energy market and describes a footprint spanning refineries, fuel stations and digital stores. Whether that presence becomes a substantial source of revenue will depend on rollout and commercial details that have not been disclosed.
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