Janet White, UK & Ireland’s oil and gas industry leader at IBM discussed the next wave of technologies that will influence the oil and gas industry beyond digitization. White says, “the upstream oil and gas sector is experiencing a time of unique change, with the need to increase production at a lower cost and reduce environmental impact.”
The focus on cognitive enterprise highlighted many issues the sector currently faces as well as brought many solutions for the future of the industry as a whole. The question is how ready will the industry be to integrate and continue to run efficiently.
White follows to say “The industry will see enterprise-driven transformation with new ways of working and digital technologies embedded in processes at a level that will enable new workflows to leverage 80 per cent of unstructured data assisting more pilots to move to production at scale…this enterprise-driven transformation will need organisational readiness in terms of agility, inquisitiveness and talent to succeed.”
As some major and defying benefits from the technology to the sector White answered with:
“In my view the biggest benefit to the sector will be to deliver the energy we need to the planet we desire!
- Address the dual challenge of growing energy demand and lower carbon through new business models and diversification into natural gas, renewables etc
- Meet the relentless productivity and efficiency issues of refinery and chemicals’ businesses by enabling new workflows leveraging AI, IoT and big data
- By 2024, 60 per cent of production asset maintenance decisions will be made by AI operators with no human involvement. AI systems will help in planning drilling operations, analysing completion reports from adjacent well in minutes, highlighting relevant events and lessons learned in seconds rather than days and improving accuracy of drilling execution through guided drilling in reservoir to maximise economic production of a well
- Move oil and gas to an “incident free” sector leveraging automation, AI (our own IBM Watson), smart wearables and IoT. Bring in more intelligence and connectivity and envision the future workplace.
- Address the human capital challenge in industry, leveraging augmented Intelligence towards areas which have undergone significant loss of industry talent
IBM is already assisting a number of organisations with their AI enabled solutions to achieve these benefits and become cognitive enterprises.
Source: Oil and Gas Technology