The benefits to be derived from adoption of digital technologies such as artificial intelligence — which have already disrupted many sectors of the economy — are no longer in doubt. Increased productivity and lower labour costs alone that AI could bring to the oil and gas industry is estimated at $200 billion, according to Matt Klukas, a consultant with Criterium Group. But that doesn’t mean the industry is ready to take it on, he said.
November 16, 2018, 3:11 AM MST
We live and work in a three dimensional world, but much of the planning work we do deals in only two dimensions, like computer screens and blueprints. And that can lead to big, and costly, problems for major project developments.
November 15, 2018, 4:16 AM MST
The shared ledger technology made famous, or infamous, by the bitcoin cryptocurrency once believed to be favoured by criminals and speculators is inching its way into the oil and gas industry. And for the company that marked the world’s first freehold royalty transaction using blockchain, the sky is the limit in the digital technology’s potential as it penetrates into all aspects of the industry.
November 14, 2018, 3:44 AM MST
When most people think of Alberta’s areas of expertise, they think of oil and gas. But developing under the radar for over a decade has been a level of artificial intelligence (AI) and machine learning expertise regarded to be in the top three, if not the preeminent cluster of researchers in the world. And those who master AI — which will impact on all industries — could be the masters of the digital economy of the future.
November 13, 2018, 6 AM MST
Fulfillment of the long awaited digital oilfield has been a goal of the oil and gas industry for more than a decade. As other sectors of the economy have transitioned to digital, remaking entire industries in the process, the oilpatch has lagged behind, despite the immense rewards that digitalization can bring. In this five-part Digital Disruption series, we present some of the challenges and opportunities presented by digitalization, and some of the success stories experienced by companies that have made the transition.
November 12, 2018, 6 AM MST
Imperial Oil Limited is moving “as fast as possible” to implement the digital initiatives it estimates are worth at least $500 million per year to its bottom line.
November 12, 2018, 8:27 AM MST
Calgary-based Ambyint Inc., which uses artificial intelligence to improve the performance of wellheads, has received $3.4 million in federal funding to further develop the technology.
October 10, 2018, 7:16 AM MDT
September 19, 2018, 8:49 AM MDT
The divide between the world’s leading technology hub in Silicon Valley and the epicenter of the U.S. energy sector in Houston can sometimes seem like oil and water: they rarely mix.
June 25, 2018, 8:01 AM MDT
Carl Data Solutions Inc. entered into a securities exchange agreement with Astra Smart Systems Corp. on June 8, 2018.
June 12, 2018, 11:35 AM MDT
June 6, 2018, 6 AM MDT
Even Joy Romero sounds a bit surprised about how much of what are being called “fourth industrial revolution” technologies are being deployed by the company she works for, which is one of North America’s largest oil and gas producers.
June 6, 2018, 10:33 AM MDT
With its purchase of Calgary-based Entero Corporation in April, Quorum Software has moved to expand its software offerings and significantly grow its Canadian presence.
June 5, 2018, 6 AM MDT
The gap between the emissions reductions promised by industrialized countries in the Paris accord and today’s reality is poised to create “disruption [that] is going to be potentially massive,” a business forum was told this week.
June 1, 2018, 9:05 AM MDT
Husky Energy Inc. is testing artificial intelligence for steam/oil ratio optimization in SAGD and for sea-state and iceberg prediction offshore Newfoundland.
May 30, 2018, 6:01 AM MDT
May 29, 2018, 9:37 AM MDT
Scottish-based Wood PLC, California-based Cisco Systems Ltd. and Mexico-based Roue Consultores have partnered to open a new, first of its kind, oil and gas Advanced Technology Center (ATC), to be located in Wood’s operations centre in the state of Mexico, near Mexico City.
May 7, 2018, 10:45 AM MDT