Oil & GasWe have been building Intelligent Agents for the Oil and Gas Industry for the last 30 years.
We use artificial intelligence and robotics to help Oil & Gas companies throughout the world achieve their green objectives in terms of reduced carbon footprint in their operations.
The Oil and Gas Industry in Transition
WE HAVE BEEN BUILDING INTELLIGENT AGENTS
FOR THE OIL AND GAS INDUSTRY FOR THE LAST 30 YEARS.
We are committed to developing new paradigms using artificial intelligence and robotics products that increase profits and lower the carbon footprint of existing and future operations.
A major energy transition from dependence on fossil fuels to other, lower-carbon forms of energy is underway but will take many decades. There is intense pressure, from consumers, governments, activists, and others, to wean the world of its fossil fuel dependence to reduce the emission of carbon dioxide and other greenhouse gases that are said to contribute to global warming. This has led in some cases to advocate dramatic shifts away from fossil fuels in favor of carbon-free renewable energy (mainly wind and solar). In turn, this will require some restructuring within the hydrocarbon industry itself as executive management working with their boards of directors seek to find a transition path.
Despite these transition pressures, the mainstream prognosis suggests that driven by population and economic growth and the relentless pursuit of prosperity in developing countries, the demand for hydrocarbon fuels will, of necessity, continue to grow. With the continuing reliance on fossil fuels, there will be no less a demand that Oil and Gas companies make every effort to reduce the carbon footprint of their operations. To do so will require paradigm shifts in operational performance and applications of technology that were looked upon as “out of the box” but are now within the realm of possibility.
The Energy Transition to NetZero 2050
Responding to the Energy Transition
The world has been responding to the energy transition at three levels: at the country level, in business corporations, and in civil society. Data on the transition can be found in the extensive network of the UNFCCC (United Nations Framework Convention on Climate Change) agencies and affiliates but is also reflected in a number of major studies that are tracking the progress of countries and companies in the transition.
The major finding from recent studies is that the energy balance has grown and is foreseen to continue to grow but with a shift in the structure of energy supplies and consumption away from hydrocarbons in favor of lower-carbon renewable energy sources. Even as these shifts take place and renewables may increase their share, the prognosis is that the world will still rely on hydrocarbons to a significant extent well into the remainder of this century.
O&G operators will have to seek ways to reduce their carbon footprints in order to stay in business and increase in value.
Reducing the Carbon Intensity of Upstream Operations
Upstream Carbon Intensity (UCI) of oil and gas production is defined as the quantity of emissions per barrel of oil produced (kg CO2 equivalent/barrel). UCI thus measures how much climate damage is done per unit of energy produced. Most O&G companies are now seeking ways to reduce their UCI and most often they see Production Optimization as the first step in doing so.
IMARC technologies are designed to replace heavy, rig-based, diesel-burning wireline or coiled tubing methods with battery-powered in-well robots which can achieve production optimization at sharply lower cost and drastically reduced carbon footprints. Operators can both reduce their UCI while making greater profits.