Key fact: Directly and indirectly, the oil and gas industry accounts for about 42% of global emissions
The first step to reducing the industry’s impact on the environment is cutting operational emissions. By simply making minor changes to processes and operations, companies have the potential to slash their energy consumption.
Key to achieving this is AI-powered technology, like digital twins, which can optimise energy management by continuously monitoring energy consumption and providing predictive and prescriptive analytics on how to improve efficiency.
Beyond this, AI technology can accurately predict the number of wells needed for an oilfield, thus minimising excessive drilling. It also offers predictive maintenance solutions for equipment and assets, measures total emissions across all operations, and analyses large volumes of data, giving operators enhanced visibility.
Key fact: Using AI for environmental applications could boost global GDP by 3.1–4.4% while reducing global greenhouse gas emissions by around 1.5–4.0% by 2030
Benefits
Reduces emissions
Improves asset integrity
Enhances visibility
