UAE energy-technology company AIQ has signed an agreement to enter India’s oil and gas sector, with planned deployment across the refineries, fuel stations and digital stores of an unnamed Indian conglomerate. The September 30, 2026 report does not identify the customer or disclose the agreement’s value, duration, rollout date or specific products.
What AIQ’s India agreement covers—and what remains unknown
AIQ CEO Dennis Jol said the company would deploy its technology across the facilities and digital stores of an Indian oil and gas conglomerate. The customer is unnamed, and the report does not specify which AIQ products are included. Moneycontrol’s September 30, 2026 report, which credits Reuters inputs, also gives no contract value, duration or rollout timetable.
AIQ is a UAE-based energy technology company. The reported agreement is an enterprise deployment, not a consumer energy product or a disclosed retail offering. The available details establish a market-entry agreement and intended deployment locations, but not its commercial scale or implementation schedule.
How this differs from ADNOC’s other India agreements
ADNOC announced two separate strategic collaborations in India on May 15, 2026. One was with Indian Strategic Petroleum Reserves Limited on crude oil, LNG and LPG storage and strategic reserves; the other was with Indian Oil Corporation on expanded LPG supply and trading. Neither announcement described AIQ’s software deployment. ADNOC’s announcement concerns broader energy supply and storage cooperation, not the reported AIQ market-entry deal.
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AIQ’s business and technology context
Ownership and reported business mix
In a May 1, 2024 announcement, ADNOC said Presight would hold a 51% stake in AIQ and ADNOC would retain 49%; it described AIQ as a standalone company in Presight’s portfolio. Those percentages reflect the structure announced at that time, not confirmation of current ownership. ADNOC’s 2024 release also reported more than 20 AI applications and 16 patents, alongside ADNOC’s own claim that AI solutions generated $500 million (AED 1.84 billion) in value in 2023 and an estimate of up to 1 million tons of CO2 abated between 2022 and 2023.
The September 2026 report said customers other than ADNOC collectively represented about 5% of AIQ’s business at that time, with ADNOC accounting for most revenue. The figure is reported company information in Moneycontrol’s Reuters-based coverage; it shows that adding an overseas market is not, by itself, evidence that customer revenue is already diversified.
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Separate ADNOC deployment contract
AIQ announced a distinct three-year, $340 million contract with ADNOC on March 10, 2025, to deploy ENERGYai and related solutions across ADNOC’s upstream value chain. AIQ said the work targeted seismic analysis, geological modeling and real-time process monitoring, using large language models, agentic AI, Azure cloud technologies, the OSDU framework and OpenAI models. These terms and use cases apply to that ADNOC contract, not the unnamed Indian customer’s agreement. AIQ’s contract announcement provides the details.
Reported test results are not India-deal results
In August 2025, AIQ described work with SLB on ENERGYai workflows for ADNOC subsurface operations. In an early test environment using 15% of ADNOC’s data and two fields, AIQ reported that a seismic agent achieved a 10-fold increase in interpretation speed and a 70% increase in precision. These are company-reported results from that specific test context, not independent findings or results from the Indian deployment. AIQ’s release on the collaboration describes the test.
What the agreement signals—and what it does not
AIQ’s CTO, Saravan Penubarthi, told Moneycontrol that international market entry was a focus for the company. The reported deployment locations suggest a broad enterprise footprint within one customer group, spanning refining, fuel retail and digital channels. But without a named customer, defined use cases or contract terms, the announcement does not establish how large the rollout is, when it will begin, or what value it may generate.
AIQ’s reported expansion beyond ADNOC also needs to be read alongside the reported revenue concentration: as of the September 2026 account, non-ADNOC customers collectively contributed about 5% of its business. The India agreement indicates a new market opportunity; it does not establish that the company’s customer mix has materially changed.
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Sources
- Moneycontrol, September 30, 2026 — India agreement, deployment locations, geographic expansion and reported business mix.
- ADNOC, May 15, 2026 — separate India storage and LPG collaborations.
- ADNOC, May 1, 2024 — announced AIQ shareholding and company-reported metrics.
- AIQ, March 10, 2025 — separate ENERGYai contract with ADNOC.
- AIQ, August 2025 — SLB collaboration and AIQ-reported test results.
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