State of Artificial Intelligence in Petroleum Industry

Interest in the application of Artificial Intelligence and Machine Learning in the Petroleum Industry has been increasing, specifically among young professionals. Exposing the new generation of petroleum professionals to the real science and philosophy of Artificial Intelligence along with its engineering application is an important part of the future of Petroleum Engineering. While the business and marketing characteristics of what claims to be AI and Machine Learning are incredibly active in our industry, unfortunately, the realistic version of AI has been minimally used (if at all) in our industry. Lack of realistic understanding of the science and philosophy of Artificial Intelligence has resulted in the application of “traditional statistics”, “inclusion of mathematical equations for data generation”, and “non-engineering application of machine learning algorithms” in petroleum engineering while being called AI-based modeling. This presentation covers the state of AI and Machine Learning in the petroleum industry while explaining what the realistic approach of this technology in our industry should be.