I began my career in geophysics, working in field acquisition, processing and then interpretation. A ruler, a few colored pencils, an eraser and the hope for the knowledge and intuition to to be right. A few years in, a company developed a program that promised to help that interpretation by using computer horsepower to look for trends and historical data. This was very important since seismic data processing is among the top 3-4 users of super computers along with weather forecasting and airline personnel scheduling. The result was dramatic increases in the speed and accuracy of interpretations that revolutionize the industry. Many don’t realize the impact companies like Landmark Graphics had in the significant reduction of dry holes drilled and improvement in industry economics. It was more than just material. The applications of AI algorithms across industries should be expected to foster similar improvements, and not just to geoscience interpretation but in everything that we do, freeing us from mundane chores and improving lives in many different respects.

According to ChatGPT, generative AI has the potential to revolutionize various aspects of the energy industry. Here are some potential use cases for generative AI in this industry:

Exploration and Reservoir Modeling: Generative AI can be used to analyze seismic data and generate detailed geological models. By processing large amounts of data, AI algorithms can identify patterns and predict the presence of oil or gas reserves with higher accuracy, helping companies optimize their exploration efforts.
Drilling Optimization: Generative AI algorithms can assist in optimizing drilling operations by analyzing historical drilling data and identifying the most effective techniques and parameters for drilling. This can help reduce drilling time, increase efficiency, and minimize the risk of accidents.
Production Optimization: AI can be utilized to optimize production processes by analyzing real-time sensor data from wells, pipelines, and other equipment. Generative AI models can predict equipment failures, recommend maintenance schedules, and optimize production parameters to maximize output while minimizing downtime and operational costs.
Supply Chain Management: Generative AI can aid in optimizing the complex supply chain in the oil and gas industry. By analyzing historical data on supply, demand, transportation, and pricing, AI models can generate forecasts and recommendations for procurement, inventory management, and logistics, ensuring timely and cost-effective delivery of resources.
Safety and Risk Assessment: AI-powered generative models can analyze historical safety data and identify potential risks and hazards in oil and gas operations. By simulating various scenarios and providing real-time risk assessments, AI systems can help companies make informed decisions, implement preventive measures, and improve overall safety standards.
Environmental Impact Assessment: Generative AI can assist in assessing and mitigating the environmental impact of oil and gas operations. By analyzing data from various sources, including satellite imagery, weather patterns, and ecological data, AI models can generate simulations and recommendations to minimize the ecological footprint of exploration, production, and transportation activities.
Decision Support Systems: Generative AI models can be used to develop decision support systems that assist engineers and operators in making informed decisions. By analyzing complex data sets, these models can generate insights and recommendations for reservoir management, well intervention strategies, and equipment maintenance, leading to improved operational efficiency.

It's important to note that the application of generative AI in the energy industry is still evolving, and the specific use cases may vary depending on the company and their specific needs.

For this Company Spotlight, we interviewed Tasq’s Co-Founder and Chief Executive Officer (Wes Hamer). Tasq connects machine learning & user feedback to automate work identification, create decision intelligence, and optimize workflow across all roles to level up industry operations. For more information on Tasq, please visit www.tasq.io.

Background: Before co-founding Tasq in 2019, Wes Hamer spent over a decade working in oil and gas production operations where he developed, evaluated, and implemented technologies to optimize production. During that time, ….. READ MORE

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Energy Technology Musings

How Will Generative Artificial Intelligence Be Used?