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More and more organizations are ready to change the way they treat their people and their screens, and must use articficial intelligence to do it.
‘Onshore drilling just has better economics currently [and] cycle times also play a key role in offshore projects versus onshore drilling,’ said Sarp Ozkan, DrillingInfo’s director of energy analysis.
Although digital technology plays a significant part in Total’s North Sea strategy, there is more to the company’s future developments than digitization.
Pipeline constraints are pushing the number of drilled but uncompleted wells higher in the Permian Basin.
During a recent tour of West Virginia University’s PPAL lab revealed research into determining permeability, pore volume, reservoir conditions, adsorption and pore structure characterization.
For mature offshore facilities, adding or even increasing water treatment and injection facilities can prove difficult, due to space or weight constraints, and may also be prohibitively expensive.
Some of the capital will go toward appraisal work for emerging plays across the Permian Basin and technologies, Oxy executives said.
Machine learning and AI are enabling the discovery of new solutions to help make the petroleum industry safer and more competitive.
With the rapid growth of produced water and infrastructure constraints operators have to find new ways to tackle it.
Kosmos CEO Andrew Inglis said he believes a huge opportunity has opened in the U.S. Gulf of Mexico as many competitors leave the region for onshore shale.
Improved data analytics, increased cell towers and the use of drones will all serve to increase production and efficiency in the Bakken.
The company says the Mowry and Niobrara shale plays have increased its estimated resource potential in the basin to more than 2 billion barrels of oil equivalent.