Equinor ASA said Wednesday it cut costs by $130 million last year – and $330 million since 2020 – by integrating artificial intelligence in its operations.
“AI is now utilized on offshore platforms and land facilities to solve industrial tasks on a large scale in a safe, efficient and profitable manner”, the Norwegian majority state-owned company said in an online statement.
Equinor said that since 2020 it had saved $120 million by deploying 24,000 sensors for monitoring over 700 rotating machines across all its facilities. This technology “predicts failures and maintenance needs, known as predictive maintenance”, Equinor said. “It improves safety, provides more stable operations and reduces the risk of sudden shutdowns that can lead to flaring and increased CO2 emissions”.
Equinor has also employed AI in the planning of wells and field development to generate thousands of options and help its experts focus on the best proposals. “In the Johan Sverdrup phase 3, AI found a solution that no one had considered, saving the partnership $12 million”, Equinor said.
AI also helps Equinor accelerate seismic data interpretation by tenfold, with two million square kilometers (772,203.75 square miles) of seismic data interpreted using AI last year, it said.
In robotics Equinor previously said the Hydrone R technology it had developed with Saipem SpA beat the resident underwater intervention drone’s own world record for continuous submersion by operating 240 days 330 meters [1,082.68 feet] below sea level between 2024 and 2025. It has been deployed for the Njord field in the Norwegian Sea for subsea infrastructure monitoring and maintenance.
“Industrial processes generate vast amounts of data, and we can use AI to ‘produce’ knowledge from this data”, Hege Skryseth, Equinor executive vice president for technology, digital and innovation, said in Wednesday’s statement. “This has already been transformative and profitable, even though we are still early in the AI revolution”.
“We primarily use ‘traditional’ machine learning on our operational data”, Skryseth said. “Our employees can use AI tools like copilots”.
Equinor said it has identified “over a hundred new use cases” for AI across its activities.
Equinor is taking a “risk-based approach” to AI, “focusing on safe and responsible use of the technology and the inclusion of our people through designated upskill programs”, it said in its 2024 annual report.
For robots, Equinor says on its website it is focusing on “dangerous, dirty, dull, distant” jobs.
To contact the author, email jov.onsat@rigzone.com
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