A recent article in Oilweek magazine provides some insight into how artificial intelligence (AI) and big data are contributing to the future of the oil and gas industry.
Data is increasingly being used to create assets such as smart systems that are able to register changes in their environments in real-time. For example, cutting edge AI systems and predictive analytics are applied to the oil exploration and production industry.
Shahab Mohaghegh of Intelligent Solutions discusses the company’s data-centric reservoir-modelling software, which, using advanced sensors, allows reservoirs and wells to impose changes on models in real-time “instead of imposing our current understanding of the geology and physics on the model”. These systems have potential to substantially increase efficiency in design and augment our understanding of the field.
Big data is also increasingly being used to develop systems, such as Microsoft’s Azure platform, that can reduce operational costs and provide a more integrated and holistic view of what is happening cross-functionally within organizations. “The vision behind this platform is about building a fully connected upstream value chain that provides a feedback loop with exploration, appraisal, development, drilling and production.”
To learn more about future of AI and big data in the oil and gas industry, read the full article from Oilweek.