How Artificial Intelligence Could Trigger a Natural Gas Boom in Europe
LONDON, March 5, 2024 /PRNewswire/ -- When the use of seismic surveys became commonplace, Oil and gas drillers used to drill only in spots the human eye could detect from seismic and other data, but that's all changing now. The next round of onshore discoveries is being aided by new Artificial Intelligence and Machine Learning software that sees what we can't, forever disrupting the exploration game. Companies mentioned in this release include: Alphabet Inc. (NASDAQ:GOOGL), Amazon.com, Inc. (NASDAQ:AMZN), C3.ai, Inc. (NYSE:AI), Microsoft Corporation (NASDAQ:MSFT), International Business Machines Corporation (NYSE:IBM).
- The next round of onshore discoveries is being aided by new Artificial Intelligence and Machine Learning software that sees what we can't, forever disrupting the exploration game.
- MCF saw the value of this technology early on and has used it extensively wherever possible in their search for gas in Europe, according to its CEO, James Hill.
- Mordor Intelligence projected oil and gas spending on AI to close out 2023 at $2.38 billion, and to reach $4.21 billion by the end of 2028.
- And strategic partnerships with companies like Chevron and Schlumberger are fueling the digital transformation of the oil and gas sector.