What’s going on here?
During the Offshore Technology Conference, an executive vice president from Schlumberger NV made a striking statement: autonomous drilling technologies in the oil and gas sector are likely to become mainstream before self-driving cars do.
What does this mean?
Schlumberger is at the forefront with other key industry players in pioneering autonomous drilling technology. This innovation combines artificial intelligence with traditional drilling practices to significantly increase quality and operational efficiency. A recent joint venture between Schlumberger and Equinor in Brazil showcased these benefits, achieving a 60% reduction in drilling time for a 2.5-kilometer well, and simultaneously cutting costs and carbon emissions—underscoring the considerable promise of this technology.
Why should I care?
For markets: Efficiency drives prosperity.
As autonomous drilling technology becomes more popular, its potential to shift market dynamics is pronounced. Improvements in operational efficiency, safety, and cost-effectiveness are set to reshape the profitability and appeal of investments within the energy sector, prompting investors to look towards technology-driven oil companies.
The bigger picture: A greener footprint.
Beyond boosting operational efficiencies, autonomous drilling also contributes to the global initiative for reduced carbon emissions in heavy industries. With proven capability to decrease environmental impact, this technology is a vital step towards a more sustainable oil and gas industry.
