FII and AI
VIDEO: Fahad Al-Dhubaib talks AI and reliability at FII8
Our senior vice president of Strategy and Market Analysis talks about how we are improving our operational efficiency, reliability, and sustainability.
Fahad K. Al-Dhubaib, senior vice president of Strategy and Market Analysis
FII 8th Edition
Oil and gas companies are big producers and users of data.
I cant talk about two examples that are helping the company improve its carbon footprint, reduce its already low cost of production, and enhance a lot of the efficiencies, especially reliability.
With the advancement of AI, we are able now to improve our efficiency in drilling. The time to extract is reduced by 30% and your ability to enhance recovery is up to 15%.
This is sizable for a company like Aramco.
The other model we have relates to reliability. Aramco takes pride in having 99%-plus reliability.
We have a center in Dhahran that monitors 50,000 rotating equipment that are critical to our operation.
Because of AI, we’re able to add the acoustics of these equipment, and now our ability to predict failure is enhanced by 99%.
We’re going beyond that at Aramco and looking at energy efficient algorithms as a means of prioritizing what application to use, driving sustainability beyond our core operation into this new and promising sector from an energy point of view.
You find yourself with a plethora of opportunities by just looking at your business operations through the digital lens.