How RembrandtAi can benefit the Oil and Gas Industry
Oil and gas are vital sources of energy. The industry is expected to reach 3.81 billion dollars by 2025, with a CAGR of 10.96%. However, the sector faces significant challenges such as environmental impact, failure to meet production requirements, and fluctuating international market prices. Artificial intelligence can help overcome such challenges. RembrandtAi is one such AI tool.
Here we give you a lowdown on how RembrandtAi works to help the Oil and Gas sector:
What is RembrandtAi?
RembrandtAi is a groundbreaking AI-based solution developed by ToolCase to cater to the needs of different industries. It collects, analyzes, integrates, and analyzes data in real-time. It creates visualization-based solutions to address specific challenges in the industry based on the strategic analysis of all the data.
How can RembrandtAi help the oil and gas industry?
Our innovative tool can help the industry overcome the following challenges.
- Quality standards
Leakages and improper threading in pipelines can lead to severe damages and loss of life. The unexpected failure of oil refining equipment can also deteriorate the quality of the final product. With the help of our RembrandtAi suit solutions, operators can manage the shutdown times, inspect the pipelines for leaks and fix errors to improve quality and reduce costs.
- Production and maintenance cost
Corrosion is a significant problem with pipelines due to temperature and environmental conditions. The oil and gas industry spends about $1.372 billion on corrosion maintenance. RembrandtAi can help reduce this cost by analyzing knowledge graphs, machinery downtimes, and predictive intelligence to estimate damage before it becomes critical.
- Decision-making flaws
The oil and gas industry has a lot of unutilized data due to a lack of advanced analytic tools. Therefore, the full potential of the sector is yet to be reached. RembrandtAi can analyze this enormous amount of virgin data and discern patterns, anomalies, and trends in real-time to help business leaders and managers make better decisions.
- Limited exploration
The existing process of exploration geophysics costs millions while the demand for energy keeps increasing. Energy Information Administration (EIA) estimates that US domestic crude oil production will surpass 11 million barrels per day by 2050. To meet this mounting demand, the oil and gas sector needs to find more sources of oil and gas. AI can help these industries discover new reservoirs of crude oil by analyzing the data collected by seismic drones.
- Meet rising production demands
A McKinsey & Company report states that offshore oil and gas platforms are running only at 77% of their maximum potential. It means that the industry faces a shortfall of 10 million barrels per day or $200 billion in annual revenue. With the help of RembrandtAi’s advanced AI analytics, industries can improve the production process by removing unproductive activities to implement more efficient ways of working.
RembrandtAi is a powerful tool by ToolCase that provides real-time solutions to governments and industries like airlines, healthcare, manufacturing, medical services, oil and gas, transportation, and shipping. ToolCase has over 20 years of experience in providing remote Oracle Database Administration, Linux/Unix System Admin, and System Storage Admin services to clients throughout the United States. You can fill our online contact form to know more.