With oil prices being less than stable in recent years, oil and gas companies have had to re-think their strategies for keeping productivity up. Historically, the industry has been slower to adopt some technological advances, although currently there seems to be more willingness to expand into the technology of the future. One reason the industry may have seemed reluctant appears to be related to a decrease in once-plentiful capital. Inefficiencies were once hidden due to a focus on growth and exploration. Although it is hopeful that prices will remain higher and more stable than in recent years, the oil and gas industry is facing the need for changes in the way their businesses operate. Automation is a key strategy for maintaining productivity in a time when leaner means better.
Because of the huge masses of data involved in the operation of oil and gas industry businesses, AI has become an exciting aspect on the horizon for company implementation. When combined with AI, automation offers benefits in every aspect of business. Not only are AI robots being built which can replace humans in more dangerous job functions, but new technology will allow for the more efficient use of data gathered to predict exploration and production outcomes. Human workforce will be necessary to integrate and manage the new technologies, which should ease the fears of those who think they may be replaced by machines.
With the capabilities of new AI and automation technology in oil and gas businesses, including central data storage and cloud applications, productivity of employees will improve. IT departments will benefit from a one-platform approach which will eliminate the need for many systems which don't communicate easily or efficiently with one another. Downtime can be minimized, allowing for a more continual flow of operations both in the field and in the office.
From predicting trends to drive investment decisions to optimizing expensive and somewhat risky drilling operations, AI could be the way of the future for oil and gas companies.
Due to its ability to improve performance, pinpoint trends and areas for improvement, and automate and streamline procedures in operations, EnHelix delivers a product with the capability of allowing a smooth transition to an upgraded method of running all aspects of the oil and gas business.
EnHelix delivers a product with the capability of allowing a smooth transition to an upgraded method of running all aspects of the oil and gas business.