Sustainability through Artificial Intelligence in Oil and Gas Industry - A Case Study

Abstract

Background/Purpose: Systems and procedures for producing and delivering oil and gas are highly expensive and rely on cutting-edge technology. This industry is one that is already exploring the possibilities of artificial intelligence. To keep a competitive edge in the face of rapid environmental change, the industry is spending extensively on artificial intelligence and other data technologies. Objective: The benefits of AI directly address the major issues in the current oilfield. The oil and gas industry are realising the profound impact that AI can have on every industry along the whole value chain. The main problems in today's oilfield are directly addressed by AI's potential. Design/Methodology/Approach: This study focuses on challenges faced by different streams of oil and gas industries and its acceptance and dependency on AI to overcome them. Findings/Result: Now, oil and gas companies may use AI to estimate the value of specific reservoirs, customise drilling and completing plans to the specific geology, and assess the risks related to each well. Originality/Value: This study provides a concise overview of the oil and gas industry’s sustainability using artificial intelligence. Paper type: A case study on how artificial intelligence has influenced the development of the oil and gas industries.