The adoption of artificial intelligence (AI) and machine learning technologies has never been more critical. Due to COVID-19, many organizations need to find a new way of working. Ensuring production rates are reliable, if not increased, while limiting the number of personnel (in some cases down to 50%) is crucial. Critical infrastructure needs to be maintained with limited personnel, and employees need to work remotely.
AI in the Oil and Gas Industry
AI is a diverse scientific field, but within the oil and gas industry there are two primary applications of the technology: machine learning and data science.
Machine learning enables computer systems to learn from and interpret data without human input, refining the process through iterations to produce programs tailored to specific purposes. Within the offshore oil and gas industry, this allows companies to monitor complex internal operations and respond quickly to concerns that human operators may not have been able to detect.
Data science uses AI to extract information and insights from data, using neural networks to link related pieces of data together and form more comprehensive pictures from existing information. The offshore oil and gas industry can use AI in data science to make the complex data used for oil and gas exploration and production more accessible, which allows companies to discover new exploration opportunities or make more use out of existing infrastructures.
AI During the Pandemic
AI and machine learning technologies are being applied to maintaining infrastructure. Through the use of predictive analytics, the technology maps the live and historic data of IoT sensors on critical assets by identifying the slightest deviations and predicting failures before they happen and the true root cause of issues.
International agreements require all countries to hold 90 days of oil reserves. As an example, Australia holds only a little more than three weeks’ worth, making the continued production of oil essential. It is not only in the business’ best interests but also the government’s to ensure production reliability.
Oil rigs contain many critical assets, such as water pumps and gas lift compressors. Many operators are reducing staff levels to 50% to provide single occupancy dwelling for all personnel on site and therefore need to look to technology to assist them in maintaining production.
Power and energy operators need to ensure energy remains reliable and efficient. Operators need to closely monitor water quality, temperature, lubrication, and vibrations to ensure assets don’t overheat and run at their optimum. AI Predictive Analytics can provide advance warnings of pending faults, outages, and other issues in the power grid.
AI has already been incorporated into a number of sectors within the oil and gas industry as part of global efforts to digitally transform exploration and production operations. This new technology is helping all of these important sectors stay safe and maintained during the pandemic.
You can check each state’s current status regarding essential businesses with this helpful resource.