financetom
Business
financetom
/
Business
/
Self-drilling oil wells to beat self-driving cars to market, SLB vice president says
News World Market Environment Technology Personal Finance Politics Retail Business Economy Cryptocurrency Forex Stocks Market Commodities
Self-drilling oil wells to beat self-driving cars to market, SLB vice president says
May 6, 2024 10:46 AM

(In second paragraph corrects spelling of name, please read

Abdellah, not Abdelah)

By Curtis Williams

HOUSTON, May 6 (Reuters) - A top executive of

Schlumberger NV ( SLB ) , the world's largest energy services firm,

on Monday predicted autonomous drilling of oil and gas wells

will beat autonomous driving cars to market and create new

efficiencies for oil producers.

Autonomous drilling is ripe for adoption by many of the

world's oil majors, Abdellah Merad, an SLB executive vice

president, said at the Offshore Technology Conference.

"We believe we will be almost autonomously drilling even

before we can autonomously drive," Merad told the conference.

"We have already with many large customers, NOCs (National Oil

Companies) IOCs (International Oil Companies) and large

independents that are on the way where we are dealing with

automation, autonomous drilling," he said.

Autonomous drilling will increase efficiency and with the

use of artificial intelligence result in improvements in the

quality of the wells as each one is an improvement on the next,

he said.

In January SLB announced that it and Equinor ( EQNR )

drilled a well in Brazil that was over 2.5 kilometers using

autonomous control mode that resulted in a 60% increase in rate

of penetration, faster well delivery with reduced cost and

carbon emissions.

"Less people onsite, it is safer, it is going to be

reliable," Merad told Reuters on the sidelines of the OTC

conference.

Comments
Welcome to financetom comments! Please keep conversations courteous and on-topic. To fosterproductive and respectful conversations, you may see comments from our Community Managers.
Sign up to post
Sort by
Show More Comments
Related Articles >
Suzlon's S144–3 MW wind turbines get big boost from Indian government
Suzlon's S144–3 MW wind turbines get big boost from Indian government
Nov 15, 2023
Th Suzlon wind turbines received the RLMM (Revised List of Models & Manufacturers) listing from the Ministry of New and Renewable Energy, marking an important milestone for the successful commercialisation of the product. Shares of Suzlon Energy Ltd ended at ₹40.49, up by ₹1.85, or 4.79%, on the BSE.
Tata Power Renewable Energy wins 200-MW project in collaboration with SJVN
Tata Power Renewable Energy wins 200-MW project in collaboration with SJVN
Nov 28, 2023
The firm and dispatchable renewable energy (FDRE) project, designed with a hybrid of solar, wind, and battery storage, is aimed at providing a stable and dispatchable energy supply during peak hours. Shares of Tata Power Company Ltd ended at ₹270.75, up by ₹12.60, or 4.88%, on the BSE.
SJVN secures 200-MW wind power project at ₹3.24 per unit
SJVN secures 200-MW wind power project at ₹3.24 per unit
Nov 16, 2023
Projected to generate 482 million units in its inaugural year post-commissioning, the cumulative energy generation over a 25-year span is anticipated to reach 12,050 million units. Shares of SJVN Ltd ended at ₹75.17, down by ₹0.50, or 0.66%, on the BSE.
This sustainable jewellery brand is luring some women away from gold
This sustainable jewellery brand is luring some women away from gold
Oct 30, 2023
Aulerth's offerings range from ₹5,000 to as high as ₹2.8 lakh. Are women willing to spend this much on jewellery made from scrap? Founder and CEO Vivek Ramabhadran definitely believes so. Aulerth produces couture-inspired pieces in association with designers like JJ Valaya, Suneet Varma, among others. It has reported 33% repeat customers in the past year and expects a spike to 40% soon.
Copyright 2023-2026 - www.financetom.com All Rights Reserved