Gazprom Neft and Saudi Aramco signed an agreement, which envisages cooperation in a project to use artificial intelligence and neural network technologies in hydrodynamic modeling of deposits, company head Alexander Dyukov told reporters on the sidelines of the Russia-Saudi investment forum.

"Right now we work intensely on implementing a project regarding the use of artificial intelligence - namely machine learning and neural network technologies in oil engineering, while preparing and rectifying hydrodynamic models of deposits," he said.

At present, hydrodynamic modeling is a cumbersome and repetitive work, which entails serious risk of miscalculations.

"Our task is to create a self-learning systems, which would complete this work in a more precise and prompt manner. Any mistake in modeling may lead to multibillion losses during infrastructure construction, so this project would allow to significantly raise the efficiency of planning the field development," he continued. "Currently, no one in the world has this technology, but we hope to get this important product jointly with Saudi Aramco."

According to earlier reports, Gazprom Neft and Saudi Aramco were in talks about joint scientific and technological projects and have already identified six areas of potential cooperation.