Oil & Gas 4.0: Data Science and Artificial Intelligence Applications in the Oil & Gas Industry
A drop of oil, on its incredible journey from several thousand feet underground to the gas station (petrol pump), leaves behind tremendous amount of data. This data often remains scattered, and unused. Analysis shows that oil & gas industry uses less than 1% of the total available data . Digital transformation to leverage these large amounts of data is estimated to have a value between US $1.5 to $2.6 trillion for the oil & gas industry .
This talk provides an overview of the different oil & gas industry segments, and their interconnections, for the benefit of larger audience. Then, selected Data Science and Artificial Intelligence use cases for each of these industry segments are presented, which have potential of having significant impact on economics, operational safety, and environmental aspects. Finally, the challenges and opportunities facing the digital transformation of oil & gas industry are discussed, from a Data Science and Artificial Intelligence perspective.