There is an ongoing fundamental shift in the way the energy, oil and gas industries are evolving, with a global demand for clean, cheap, reliable energy. Artificial intelligence is increasingly being used to help meet this need by enabling the growth of low-carbon, green electricity and optimization of traditional oil and gas reservoir extraction.
Next, we list our solutions for Energy, Utilities, Oil and Gas enterprises.
Machine learning could be used to forecast energy supply and demand in real time and optimize load dispatch. Some algorithms can be used to predict a global electricity network, where renewable energy sources such as wind and solar power are weather-dependent and will often fluctuate in their strength. Furthermore, other algorithms can be applied to forecasting the energy demand of a retail store, production plant or any other building.
AI can be of great help for oil and gas enterprises for predicting production rates and forecasting future performance of oil and gas wells. Oil and gas production rates decline as a function of time, due to loss of reservoir pressure, volume change of internal fluids and other factors. Machine learning can be used to model the dynamics of the wells and determine their life cycle.
It uses machine learning and real-time data gathered from equipment to notify workers when
something is starting to go wrong. That way the machinery can be fixed before there is a
catastrophe. This method goes beyond standard maintenance, using the actual condition of an
equipment to determine when repairs should be performed.
Internet of Things (IoT) solutions provide endless opportunities for achieving real-time energy management and significant savings on the energy bill. IoT solutions help increase efficiency and generate positive environmental and economic impacts. Machine learning algorithms can be used to obtain a better understanding of consumption patterns and generation of programmable alarms to detect abnormal consumption.