Using AI in Oil and Gas Market

Different types of industries has been using Artificial Intelligence (AI) and has gain positive outcome this also applies to the oil and gas industry in where the risk of fires and explosions were much more dangerous due to the explosive nature of these fuels. For about 10% of the field operations cost were save due to the application of digital transformation in the oil and gas sector that uses augmented visual technologies. The productivity of the fuel and safety were improved by using AI which also lends precise applications of quality control, prediction planning, and predictive maintenance which all affect the running of the business.

There are three ways to use AI technologies. First is in operation, pertaining to upstream, midstream, and downstream. Upstream will deal with exploration and production sector, the Midstream is when the transportation of the crude or refined petroleum products that takes place and the Downstream is the process of refining, processing, and purifying crude oil and natural gas. While the second way is the service type which means the professional services and managed services. Lastly the third way is the geography that is segmented into five continent-based areas in the world.

Use of AI In Safety

Optimizing the operation of upstream, midstream, and downstream functions is the work of AI and detecting the defects in the pipeline and machinery used to explore for oil, produce, transport, refine and process the crude oil and natural gas which will save costs and will prevent extensive damage that may occurred.

AI promotes the safety and security standards of the oil and gas industry since the oil and gas are dangerous due to the fuels flammability and the production of the toxic fumes the AI systems monitors the toxicity level which leaks and sends an alert when flagged issues arises.

The change of temperature is the other safety hazard in the industry. The safety of the storage and transportation of crude oil and natural gas can be change depending on the environmental condition and an early detection will prevent a disaster to occur. By automatically adjusting the heat and the cooling systems the products will remain safe in all season of the year the AI also alerts the maintenance crew if a maintenance is needed on the machinery that is used to process and transport the crude oil.

AI In Business Optimization

Predicting the businesses downtimes such as the time when the machinery needs to be maintained is one of the AI’s work and the business can prevent loss of income through better planning. The machinery’s life is lengthened with a proper maintenance which could result in a long-term cost savings.

The oil industry uses the data to derive information on plants and assist the geoscientist in making strategic decision such as the need to move an exploration plant to another site. Processing a large amount of data can be done by the AI which enables a real-time decision-making that can improve the overall business operations, leading to efficiency, with fewer risk, and damage, which is costly and cost savings that based on the improved business processes.

The increase of the rate exploration can be done using AI-based technologies which is time-consuming and capital-intensive venture. Interpreting the geology, geophysics and oil reservoir of the geographical location can be done using AI to make the exploration more precise which eliminates the need to spend more money on a hit-and-miss scenario.

AI in Quality Assurance

The oil and gas industry has a high risk factors getting the quality assurance in this industry will need the Artificial Intelligence based technologies which were design for smooth application and limitless uses that increases the quality of the entire process from beginning to the endpoint of the purification and processing the crude oil and natural gas. Which will be done when an early detection and correction of any potential risk were done immediately.

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