Machine Learning/AI Continues to Gain Interest and Momentum in the Oil & Gas Industry
A recent study published by Kimberlite Oilfield Research with 151 geologists and geophysicists worldwide reveals that machine learning/AI continues to gain interest and momentum among the oil & gas industry.
Oil & gas operators worldwide have increased their level of interest in leveraging machine learning/AI technologies to support their seismic data processing workflows from 48% in 2018 to 68% in 2021.
Virtually all the major oil company respondents surveyed cite that their company is considering the use of machine learning/AI technologies while national oil companies increased marginally to 62% in 2021.
Key seismic data processing workflows or processes cited as having the greatest potential to benefit from machine learning/AI technologies include complex velocity modeling followed by improved overall accuracy/quality checks & workflows that result in reduced errors. Other areas of value seen in using machine learning solutions include improved fault/horizon detection, data management, integration & correlation, and improved seismic interpretation and speed & time savings to execute projects.
Major oil companies are most inclined to develop their machine learning/AI capabilities in-house while independent operators and national oil companies will be looking toward 3rd party best in class providers to assist them with development and deployment.
Kimberlite will continue to monitor and track the use and adoption of machine learning/AI technologies. Feel free to reach out to discuss.