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New Collaboration: NewMed Energy and GeoIntelX

In a groundbreaking partnership, NewMed Energy has teamed up with GeoIntelX to accelerate its natural gas exploration and production (E&P) efforts. This collaboration integrates advanced artificial intelligence capabilities through the GIX geospatial intelligence platform developed by GeoIntelX. The agreement focuses on enhancing NewMed's exploration and production capabilities across its key asset projects.

GeoIntelX implemented its AI-driven platform to process and enrich NewMed Energy's extensive database, which encompasses a variety of technical and non-technical areas, including subsurface insights, production methodologies, and environmental regulatory compliance materials. The early results of this collaboration showcase significant operational efficiencies and depth of insight, as noted by Kul Karcz, VP of Exploration at NewMed Energy.

Karcz noted, "Having our database fully digitized, centralized, and structurally organized allows for a transformative change in our knowledge generation. We can now utilize both our historical and current knowledge with powerful AI analyses. This is unlocking new value from both recent and legacy data."

Enhanced Decision-Making Capabilities

One of the most significant benefits of this collaboration is the reduction in time taken to analyze complex geological questions. Previously, such inquiries could take days or even weeks for a response, but with GIX, high-quality information can now be accessed in mere minutes. This rapid response supports streamlined decision-making processes and substantially lessens the concern of overlooking valuable knowledge within the organization.

The AI technology behind the GIX platform utilizes proprietary machine learning algorithms to transform NewMed's offline, static data into a dynamic geospatial intelligence layer. This amalgamation represents a shift from isolated files to a unified intelligence resource, allowing exploration teams to explore data interactively through geographical searching and filtering tools.

Additionally, the integration of AI-powered conversational interfaces enables geologists and commercial analysts to pose intricate geological and commercial inquiries, receiving high-quality, contextual answers swiftly.

A Forward-Looking Approach

NewMed Energy has been acknowledged for its innovative approach within the energy sector. By forging this alliance with GeoIntelX, NewMed aligns itself with emerging technological advancements that aim to maximize the potential of data while bolstering operational efficiency. Gilad Hoshen, Co-Founder and CEO of GeoIntelX, expressed pride in their contribution to NewMed's pioneering efforts, stating, "The application of advanced AI solutions highlights how industry leaders are actively shaping the future of energy exploration. Our tools empower geoscientists to expedite their discovery processes, ensuring sustainability and reducing waste."

As the collaboration progresses, it aims to further capitalize on the power of AI technologies in the energy sector, setting a precedent for future partnerships. By utilizing state-of-the-art tools designed specifically for subsurface data, NewMed is poised to make significant advancements that will reshape the industry landscape.

In the broader perspective, this collaboration aligns perfectly with NewMed's strategic objectives to leverage emerging data technologies fully. The optimization of operational efficiency not only enhances the company's value proposition for stakeholders but also represents a commitment to delivering sustainable energy solutions in a rapidly evolving market.

About GeoIntelX

GeoIntelX specializes in transforming unstructured geological data into actionable insights specifically tailored for the mining, energy, and renewable sectors. This focus, combined with their advanced AI analytics and domain expertise, assists organizations in making informed decisions swiftly, enhancing exploration and investment strategies.

About NewMed Energy

NewMed Energy (TASE NWMD) is a leading energy partnership focused on natural gas exploration, development, and production across the Mediterranean and Middle East regions. Known for its stake in Leviathan, the largest gas reservoir in the Mediterranean, and the Aphrodite gas field off the coast of Cyprus, NewMed energy plays a crucial role in supplying natural gas to Israel and neighboring markets through strategic partnerships and robust infrastructure development.