Artificial intelligence could boost Russian oil/gas industry by 5.4 trillion roubles over 15 years-deputy minister
Deputy Energy Minister Pavel Sorokin cited the figure of 5.4 trillion roubles ($73.2 billion) at a congress entitled “Innovative practices – science plus business” – made up of 2.45 trillion roubles in overall income growth from tax revenues in 2025-2040 and 2.95 trillion roubles in growth of cash flows for business over the same period.

    One example of artificial intelligence put to good use is a system of finding previously undetected mineral deposits. Such a system provides additional oil production of about 70 barrels per day per well with no expenses incurred for drilling or creating infrastructure.

    The “cognitive geologist” system is able to interpret data six times faster and with 30 greater accuracy.

    Automatic analysis of the Earth’s core makes data processing up to 10 times faster —a few days instead of one to two months – with comparable quality. That produces a benefit of more than 80 million roubles per year. Being able to foresee drilling difficulties will reduce well costs by 3-5 %.

    And digital drilling will allow for an increase in effectiveness from 90 to 95 % of penetration into stratum with a capacity of three metres. That will produce a 15 % reduction in capital costs.

    “To be truthful, this will help us speed up optimisation of our reserves in a period when hydrocarbons will be profitable and remain the world’s primary source of energy,” Sorokin told the meeting.

     “If we put things off for another 10-20 years and cannot bring in these technologies, we will lose a window of opportunity on when we can start major projects with a large investment cycle.”


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December 2020