Artificial Intelligence should be seen as one tool among many, rather than as a panacea for operational inefficiencies at the equipment/well level, according to Grant Eggleton of P2 Energy Solutions. The report also recommends that companies consider using AI in their supply chain management and operations planning processes, with an eye towards reducing costs by up to 30%. Artificial intelligence and machine learning are new sources of data, insights and events. Existing tools, such as metering, well and subsurface models and production accounting, can all be used to create self-service operational intelligence programmes, which would then provide a foundation for AI development, he said.
Artificial Intelligence should be seen as one tool among many, rather than as a panacea for operational inefficiencies at the equipment/well level, according to Grant Eggleton of P2 Energy Solutions. The report also recommends that companies consider using AI in their supply chain management and operations planning processes, with an eye towards reducing costs by up to 30%. Existing tools, such as metering, well and subsurface models and production accounting, can all be used to create self-service operational intelligence programmes, which would then provide a foundation for AI development, he said.