At the CERAWeek conference in Houston, executives discussed how artificial intelligence (AI) is revolutionizing oil and gas drilling, making challenging areas more accessible to development. BP and Devon Energy highlighted the benefits of AI in optimizing drilling processes and predicting potential issues before they occur, resulting in improved efficiency and resource allocation.
AI applications have enabled Chevron to utilize drones for monitoring shale operations, reducing operational downtime and enhancing production efficiency. Furthermore, Devon Energy's implementation of machine learning models has significantly extended the lifespan of its oil and gas wells.
In the offshore sector, BP has expedited the evaluation of seismic data in the Gulf of Mexico using AI, streamlining decision-making processes for drilling operations. Chicheng Xu emphasized how advanced AI technologies, such as large-language models, are driving a transformation within the industry by facilitating complex data analysis and visualization.
As AI continues to demonstrate its value in reducing costs and time, industry experts stress the importance of its adoption for maintaining competitiveness. Devon Energy's Lowe underscored, "Companies that don't deploy it (AI) will get left behind at this point."