40 years ago, artificial intelligence seemed something distant and fantastic. The movie “The Terminator” gave the world fears of a future where machines would control humanity. However, the reality is much less apocalyptic: today, AI performs tasks that help humans significantly increase efficiency in production, and one such industry is the oil and gas industry. Adopting digital technologies in the enterprise is becoming key to its success in 2024.
AI: from weak to strong
Artificial intelligence is divided into weak and strong. Weak AI works with specific tasks, is not capable of complex decisions and is limited in its actions. It is used, for example, to automate operations such as data collection or data processing. In contrast, strong AI can solve problems independently, adapt to new contexts and make decisions that may be unexpected by humans.
The application of both types of AI in the oil and gas industry can significantly improve safety, efficiency and productivity at various stages of field development.
Application of AI in the oil and gas industry
Modern technologies allow AI to cope with many complex tasks, such as big data analysis, production forecasting, process optimization, and accident prevention.
British Petroleum (BP) is actively using AI to analyze data from field exploration. By analyzing well data, formation deformation, and other geological characteristics, AI helps the company predict production volumes and make informed decisions. The use of AI can significantly improve the accuracy of forecasts, improve risk management and utilize resources more efficiently.
Shell, in turn, uses AI to optimize hydrocarbon production processes. The company’s specialists develop models that collect and analyze information about geological characteristics of fields, production volumes and other data. This helps to plan production more accurately and minimize unnecessary costs.
Machine learning as a key technology
Machine learning, a subspecies of AI, plays a special role in the oil and gas industry. This technology makes it possible not only to analyze data, but also to predict future events. For example, machine learning can be used to effectively predict equipment wear and tear, allowing you to plan ahead for maintenance and avoid costly breakdowns.
Companies are using machine learning to optimize various business processes, from infrastructure management to developing effective operational strategies. AI helps make decisions quickly, which is especially important in highly competitive environments and the need to minimize costs.
Impact on business processes
Digitalization and the application of AI and machine learning can not only increase productivity, but also optimize enterprise costs. This is especially important for capital-intensive industries such as the oil and gas industry. AI and machine learning technologies accelerate decision-making processes, making them more accurate and informed, which reduces risk and increases profitability.
In addition, AI is being used to improve industrial safety, which is also a critical challenge for oil and gas companies. Predicting potential accidents, monitoring equipment conditions, and analyzing factors that can affect safety are important aspects where AI finds its application.
Prospects and future of AI in the oil and gas industry
Modern technologies, including artificial intelligence and machine learning, are fundamentally changing approaches to field development, production and processing of hydrocarbons. They make it possible to significantly increase efficiency, reduce costs and minimize risks. In the future, we can expect AI to be even more deeply integrated into various processes, opening up new opportunities for optimization and increased safety.
Interestingly, companies that are actively implementing AI are already showing significant results. In particular, this applies not only to large multinationals such as BP and Shell, but also to SMEs, which are also starting to use the technology to improve their processes.
Thus, artificial intelligence and machine learning continue to develop and be implemented in the oil and gas industry, opening up new horizons for its modernization and efficiency improvement.
