AI contributing to boosting oil, gas industries
Artificial intelligence (AI) has emerged as a pivotal tool for enhancing efficiency and performance in industries such as oil, gas, and petrochemicals. Leveraging the potential of AI through knowledge-based companies has become a priority for the Vice-Presidency for Science, Technology, and Knowledge-Based Economy in Iran.
AI, once confined to the digital realm, now influences every sector, including healthcare and finance.
Today, industries are redefining their relationship with AI to boost productivity and streamline operations. This cutting-edge technology has now made significant inroads into the oil and gas sector, offering transformative applications such as revitalizing underperforming wells and uncovering overlooked reserves.
One notable example of AI’s impact in the oil industry is the establishment of the Integrated Well, Reservoir, and Facility Management (WRFM) Center by an Iranian knowledge-based company.
Inaugurated in December 2024 with a $15 million investment, this smart center uses advanced sensors, data management systems, AI, and real-time analytics to monitor and optimize well operations, reservoir conditions, and surface facilities.
This innovative approach has led to enhanced efficiency and increased productivity with minimal investment, underscoring AI’s transformative potential in the oil and gas industries.
