Implementation Of Artificial Intelligence In The Energy Sector Offers Innovation Potential

Oil and gas companies are exploring ways to use AI technology to encourage innovation in the energy sector. (photo: dock. pexels)

JAKARTA - With the rapid development of artificial intelligence (AI) and its popularity in various industries, oil and gas companies are exploring ways to use this technology to encourage innovation in the energy sector.

The following are 10 predictions about future AI applications in the energy sector, according to Jefferies, a brokerage firm.

ASSET MANAGEMENT AND MONITORING

Jefferies estimates energy companies will work closely with tech companies to develop digital replicas of their infrastructure to manage assets and facilitate predictive treatments, which allow for prior identification of defects.

Shell has partnered with Accelos, a Swiss modeling and simulation company, to use their digital replica technology.

OPTIMIZATION OF EXPLORATION

AI can be used to better map the amount of oil that can be recovered from the reserves found.

Shell uses AI-based technology from big-data firm SparkCognition in exploration and production at deep sea to increase oil production, potentially cutting exploration time to just nine days compared to nine months.

PLANNING FOR HUSBAND BOARDING AND DESIGN

The AI platform can provide optimal designs, including placement and distance, in order to maximize productivity.

In 2022, the CEO of oil field service company totaling-UTI, William A.men Jr., said that AI could allow one person to manage 4 rigs rather than one person per rig.

MAXIMIZE SUMUR PRODUCTION

AI will be used to monitor and adjust the output of wells, flow rate, and pressure in real-time as well as identify anomalies.Range Resources is testing the AI algorithm.

MAXIMIZING EXCEPTION RATES

AI can help increase oil collection on old field sites that experience lower production and higher operational costs.

The Italian oil field service company, Saipem, is developing an AI tool to maximize the quality of wells.

OPTIMIZATION OF REFINERY

AI will allow oil processing to quickly adjust to changing market conditions and adjust raw materials and output as needed.

DETECTION AND EMISSION MONITORING

AI-based mapping technology can identify methane plume and quantify emissions volume.

Chevron has used machine learning and advanced technology to detect, prevent emissions, and make improvements on time.

CYBER SECURITY

AI can identify and resolve cybersecurity breaches in real-time and find vulnerabilities to minimize violations.

SAFETY AND WORK EFFECTIVENESS

AI can identify potential hazards, track worker fatigue, and increase work efficiency.

TAKEOVER OF CORPORATE AND STRATEGIC DECISIONS

AI can also help improve capital budget planning, planning, and risk management.

With the AI application growing in the energy sector, oil and gas companies have the opportunity to increase operational efficiency, reduce costs, and increase productivity.

Artificial intelligence can help them in managing assets more effectively, maximizing production potential, and responding quickly to market and environmental changes.

However, companies also need to consider the challenges related to privacy, data security, and adoption of new technologies. In implementing AI, it is important for companies to have a mature strategy, clear policies, and an appropriate framework to ensure the implementation of this technology runs successfully and provides the expected benefits in the energy sector.