The Oil& Gas industry is undergoing a massive transformation around the world. Newer technologies are creeping inside the industry, allowing unconventional drilling types, thereby, enhancing oil & gas production as a whole. The UAE accounts for the world’s 7th largest crude oil reserves and is considered as a responsible producer and critical partner in the global energy markets. Despite being a consistent supplier, the UAE is increasingly becoming a relevant consumer of energy as well.
However, the oil & gas industry does face various challenges at its operational levels. Several issues such as unconnected environments, frequent downtimes, maintenance of machines are bothering to the extent that there’s no route other than adopting the latest technologies to tackle them. Artificial Intelligence (AI) and its applications like Machine Learning (ML) and Big Data are making inroads to the oil & gas industry, LET’S GO DEEP INTO IT –
AI – Applications and Benefits
1. Task Automation
It’s not a denying fact that this industry is very much labor – centric. As per Mckinsey, AI & ML can automate up to the 90% of daily tasks in the oil & gas industry. This way, productivity and efficiency of employees increase throughout the process of service delivery.
Why AI and ML are beneficial for the sector –
- Allowing assessment of large volumes of data.
- Decision-making & problem-solving abilities, similar to the manner brain does.
- Adaptation capability according to the inflow of new data.
- Based on new data, forecasting outcomes & predicting analytics.
Based on the above given capabilities, AI and ML tools help to enhance reservoir modeling, troubleshoot underperforming wells, and carrying out preventative maintenance even before any problem arises.
2. Drones & Robots in the extraction of hydrocarbons
A major task involved in this industry is the extraction of hydrocarbons. Before the process of drilling and extracting of hydrocarbons, companies have to locate natural gas and oil that lie deep, beneath the earth’s surface. In this type of high-risk areas, the immense capabilities of AI-powered autonomous robots and drones are being widely used.
3. Real-Time Monitoring of Electric Submersible Pumps(ESPs)
ESP systems are quite a popular method of Artificial Lift pumping technology that pumps up fluids to the earth’s surface. ESPs are also known as high volume and depth champions among all the forms of oil-field artificial lift systems. However, they need constant monitoring. AI -enabled predictive maintenance solutions are specifically designed to provide real-time monitoring through a remote location.
4. Optimizing product quality
AI helps in optimizing product quality as oil prices keep fluctuating across the global markets. AI & ML algorithms collect relevant data from varied devices and sensors and give a real-time updates, thus, facilitating a smoother operating environment.
5. Reservoir functioning & management
Reservoir forms a core of any natural gas and oil production. It requires a greater level of optimization and maintenance. AI backed systems provide high-end production techniques that contribute to the overall functioning of reservoirs rather smoothly.
6. Maintaining plant operations
Plant maintenance requires a huge cost and any laxity could cost millions a day. AI applications help ease out this issue by a series of predictive and preventive measures. Predicting outages, repairing of the assets can be completed now during the scheduled maintenance windows, thereby, averting any sort of potential disasters. Also, there is no unnecessary wastage of resources. This is how AI based applications are helping in plant maintenance.
The efficacy of modern technologies such as Artificial Intelligence is gaining momentum in oil& gas industry in the UAE. AIQ , the AI joint venture between Abu Dhabi National Oil Company (ADNOC) and Group 42 (G42), is the latest example that substantiates the fact that AI is indeed going to boost the industry in a very big way.
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