Artificial Intelligence is a technology that has long and firmly entered the life of mankind, and does not slow down in its development. We notice the presence of Artificial Intelligence everywhere: when we communicate with a chatbot, when we create a text or image, when we choose our own music and in more complex industries — manufacturing, mining or oil and gas.
The dynamic development of AI in the Oil and Gas industry is marked by its capabilities in finding possible deposits of various minerals, minimizing the human factor, automating work processes and minimizing costs.
According to the UAE National Strategy for Artificial Intelligence 2031, it is noted that the following sectors will be prioritized for AI development:
— Resources and Energy
— Logistics and Transport
— Tourism and Hospitality
— Healthcare
— Cybersecurity.
We asked some experts about what do they think about the development of AI in the Oil and Gas industry:
Tushar Thakur, Co-Founder and Professional Tech Blogger at TechKV notes the following:
“From what I’ve seen, the oil and gas business in the UAE is about to be greatly affected by AI, which will use technological advances to make operations more efficient, safety rules stricter, and decision-making processes better. At the moment, AI is used in this field for things like predictive maintenance, making drilling operations more efficient, and using complex data analysis to improve the results of exploration and output. These changes not only make things easier, but they also cut costs and lower operating risks.
AI is likely to become even more important in the future. It will probably make it possible to model reservoirs more accurately, which will help make resource extraction methods more effective. Real-time data analytics powered by AI will make managing assets and handling the supply chain easier. This will make everything run more smoothly across the industry. Additionally, AI-powered prediction analytics will help with efforts to save energy and protect the environment by making the best use of resources.
AI has the potential to completely change the UAE’s oil and gas business, leading to new ideas and keeping the country competitive in global markets. The industry will need to adopt these technologies to meet future challenges and take advantage of future possibilities.”
Eliot Vancil, CEO of Fuel Logic LLC.:
“AI will greatly affect the growth of the oil and gas business in the UAE. Preventive maintenance is a big one. AI algorithms look at equipment data to see if it will break down before it does. This cuts down on downtime and saves millions of dollars in repair costs. For example, in my previous job, we used AI to predict maintenance, which cut our downtime by 30%.
In the UAE, AI is also being used to improve the efficiency of drilling activities. Advanced AI models analyze geological data to find the best places to drill, increasing efficiency and decreasing environmental damage. Up to 20% more digging jobs are said to be successful when AI is used in this way.
AI will help the business make even more progress in the future. AI-powered automation will speed up processes, from digging to refining, lowering the risk of mistakes and raising safety. AI can also help people make better decisions by analyzing and revealing ideas from data in real-time, which can lead to better strategic planning.
AI will play a bigger part in the oil and gas business, making it more efficient, cutting costs, and less impacting the environment. As more people use these technologies, the energy business will strengthen and last longer, ensuring a stable energy future.”
Michael Hess, an AI expert and Senior Analyst at Code Signing Store:
“In the UAE oil & gas industry, Artificial intelligence (AI) is set to reconfigure how things are done and making possible a sustainable and very efficient sector. AI has also made it possible to optimally operate drilling systems through autonomous platforms, which some people do not know about, but it will be one of the most transformative applications for this technology. These products enhance precision as well as reducing hazards posed by complex offshore environments, thereby changing planning and execution approaches for wells.
Predictive maintenance powered by AI, however, can change the entire game. By way of real-time analysis of vast data sets, AI algorithms can forecast equipment failures before they occur, thus enabling proactive maintenance strategies aimed at minimizing downtime and optimizing asset utilization. In a field where downtime can result in huge losses of money, such an approach is only but necessary.
Furthermore, AI’s fusion with IoT devices will produce smart oilfields. This means that these fields would use sensors coupled with drones to bring real-time data for decision-making, hence generating adaptable and more agile practices within the sector.”
Kiara Thomas, Innovation Specialist at Noble Corporation:
“AI is quickly becoming a common topic in the Oil and Gas industry. Rig automation has been a part of the industry for years, but technology improvements are dating manual equipment and procedures rapidly. AI technologies that keep our people safe, enhance and extend the life of our rigs, increase oil recovery and profitability, and make environmental protection actionable are certain to see the most traction today and in the near future.
I am optimistic about AI in O&G. There are few hurdles. The industry has a unique set of obstacles, such as remote network connectivity. IT teams will not readily accept “quick” data management pitches. Companies will need to approach the topic with tact and a partnership mentality. But innovation in the space is wide open. There are so many possibilities. We are just scratching the surface. I am hoping to begin seeing more interoperability. Then things will really get exciting.”
What should companies invest in?
— Improving process efficiency and safety. Minimizing the human factor.
— Using AI in combination with ML, Big Data and other technologies to develop a multifaceted solution.
Implementing Artificial Intelligence algorithms in combination with other technologies helps to significantly improve operational efficiency and performance, for example, in exploration and drilling processes. The use of data analytics helps in improving exploration and forecasting.
Ilya Smirnov, Head of AI / ML at Usetech, adds:
“Our clients in the oil and gas industry are very interested in incorporating AI, ML and other technologies into their workflows. For example, AI is used to analyze seismic data, geological features, and reservoir characteristics. This helps in creating more accurate models of underground formations and improving the management of reservoirs. Also, AI technologies are being used to optimize energy consumption in oil and gas operations. By analyzing energy usage patterns and operational data, AI algorithms can identify inefficiencies and suggest improvements.”
