Jennifer Pallanich, senior technology editor, Hart Energy: Artificial intelligence and machine learning (ML) are changing the way the oil industry works.
While the industry has used ML and AI for years, it was only with the advent of cloud computing that ML and AI-based solutions really started to take off. These technologies have helped increase production, driven down exploration and development costs, improved safety and sped up workflows. There are plenty of use cases for AI and ML technologies, and they are as diverse as processing seismic imaging to clean up the noise to well-equipped hard hats that can filter out ambient noise at loud work sites to computer vision that can help detect corrosion on assets. However, the ‘garbage in, garbage out’ maxim is particularly true for AI and ML because biased or flawed data used to train the learning models will skew the results. It is essential, the experts say, to start with quality curated data and lots of it.
Until next time, I'm Jennifer Pallanich, and this has been another Tech Trends from Hart Energy LIVE.
Recommended Reading
BCCK, Vision RNG Enter Clean Energy Partnership
2024-04-23 - BCCK will deliver two of its NiTech Single Tower Nitrogen Rejection Units (NRU) and amine systems to Vision RNG’s landfill gas processing sites in Seneca and Perry counties, Ohio.
High Interest Rates a Headwind for the Energy Transition
2024-04-18 - Persistent high interest rates will make transitioning to a net zero global economy much harder and more costly, according to Wood Mackenzie Head of Economics Peter Martin.
Clean Energy Begins Operations at South Dakota RNG Facility
2024-04-23 - Clean Energy Fuels’ $26 million South Dakota RNG facility will supply fuel to commercial users such as UPS and Amazon.
Acadia Energy, Alternus to Develop 200 MW of Microgrids in New York
2024-05-09 - Acadia Energy and Alternus Clean Energy will equally share project development costs and expect to begin commercial operations within two years.
Energy Vault, ACEN Australia Enter Battery Storage Agreement
2024-05-09 - Under the agreements, Energy Vault will deploy two battery storage systems at ACEN’s New England Solar project, located near Uralla, Australia.