Apply AI-Driven Technology to Unconventional Assets: Three Common Scenarios
HART Industry Voice • Dr. Nansen Saleri, Dr. Hamed Darabi • 07/06/2022
Unconventional oil and gas development has been accelerated over the past two decades in response to the continuous growth in global energy demand. Despite the challenges that oil and gas are facing in the overall energy mix (namely associated GHG emissions and net zero goals), the dependency on unconventional fossil fuels is expected to remain strong for the foreseeable future. Among all different factors, accurate production forecasting is crucial to effectively manage unconventional assets. In fact, inaccuracies in productivity forecasts lead to low Energy Return on Investment (EROI; difference between energy required for extraction and generation).
SpeedWise® Unconventionals (SUN) is an AI-driven cloud-native technology on a scalable and secure AWS cloud infrastructure that provides a flexible framework for accurate production forecasting, required for many reservoir management decisions. Application of an AI-driven technology like SUN is used in three common decision scenarios:
Scenario 1: Estimate reserves on existing wells
Scenario 2: Optimize future drilling
Scenario 3: Efficiently operate existing wells