Houston (Reuters) – (This story of March 13 was corrected after Devon Energy changed data to say that 15% was improving the efficiency of drilling, not 25% improvement in the productive life of its petroleum and gas wells, in paragraph 12.
Artificial intelligence accelerates the drilling of oil and gas and encourages companies to otherwise look at the places they considered too heavy or expensive to develop, the managers detailed during the Ceraweek conference in Houston.
AI has occupied the center stage in many sessions at the world’s largest energy gathering. Oil manufacturers are looking for ways to remain profitable in the environment, the price of oil and worries falls that US President Donald Trump’s tariffs can slow down global energy demand.
UK oil Major BP uses AI to direct the drills and anticipate potential problems in the wells before it happens, said Ann Davies, a senior BP BP vice president.
“We are able to drill more wells a year and have better capital distribution,” she said.
BP announced last month that it will increase their annual consumption on oil and gas production as part of a large shift strategy to improve investor trust.
AI helped the US oil producer Devon Energy Drill in areas where it was impossible, said the Trey Lowe CEO of Trey Lowe in an interview.
For example, the company can collect guilt information in the formation and then drill on the other side to avoid it, he said.
Chevron uses an unmanned aircraft with AI drives flying over their slate and Colorado operations to monitor the potential problems such as the leaks of emissions and warning workers.
In three months of testing drones through a partnership with autonomous drone percepto, Chevron reduced the time in which production was closed to repair or maintenance, said Russell Robinson, Deputy Program of Program Programs and Operations in Chevron, interviewing at the Margine Conference.
The drones helped workers spend less time crossing the slate field by performing routine inspections, he said.
“We continued to have more assets that last for a long time, so this is all just produced by more oil or gas,” he said, adding that Chevron assessed whether he would expand the use of drones to oversee his refineries.
Devon Energy has machine learning models that oversee each of their oil equipment across the US, Lowe said. The company recorded 15% improvement of drilling efficiency.
AI also accelerates drilling at sea. BP evaluates huge amounts of seismic data in the Gulf of Mexico in just eight to 12 weeks with the help of AI, opposite six to 12 months before. This helps the geoscientists determine where they need a well and anticipate difficulties, a spokesman said.
