June 9 (Reuters) - With AI rapidly becoming a buzzword across industries, oil and gas companies are exploring ways to use this technology to fuel innovation in the energy sector.
Here are 10 predictions for future applications of AI in energy, according to brokerage Jefferies.
In 2022, oil-field services firm Patterson-UTI (PTEN.O) CEO William A. Hendricks Jr said AI may allow one person to manage 4 rigs instead of one person per rig.
MAXIMIZING RECOVERY RATESAI could help enhance oil recovery at brownfield sites, subject to declining production and higher operating costs.
Italian oilfield services firm Saipem (SPMI.MI) is developing an AI tool to maximize well quality.
Persons:
Jefferies, Patterson, William A, Hendricks Jr, Arshreet Singh
Organizations:
Shell, Akselos, Resources, Chevron, Thomson
Locations:
Swiss