Machine Learning Solutions are Key Strategic Initiatives for Oil & Gas Industry
Oil & gas operators worldwide report that machine learning solutions will play an important role in their companies’ future strategies.
Kimberlite Oilfield Research recently published the 2018 G&G Software report based on interviews with 289 geologists and geophysicists worldwide and also published the 2018 Production Software report based on interviews with 130 operators worldwide.
While only 12% of the professionals interviewed were highly familiar with machine learning solutions, 71% of the respondents believe that machine learning solutions will play an important role in their companies’ future strategies.
Among the G&G professionals interviewed worldwide, they anticipate machine learning solutions will provide high value in supporting a wide variety of G&G related activities especially in the areas of well log analysis, reservoir characterization & modeling and automated data management.
Kimberlite Oilfield Research continues to track the oil & gas industry’s interest in leveraging machine learning solutions as evidenced in the operator’s expectations to increase use of automated drilling systems as reported in Kimberlite’s 2017 Drilling Equipment & Services report and increased use of automation and controls in managing oil & gas fields, particularly in the offshore and subsea segments.