According to a study by the World Economic Forum, more than $1.6 trillion dollars of value can be unlocked through digitalisation of the oil and gas industry. While this might seem ambitious, a vast array of technologies and systems are already being deployed in the oil field with considerable levels of success. The artificial lift industry is no stranger to this transformation. In the last decade, we have witnessed more and more implementation of predictive models, optimisation logics, advanced analytics, autonomous controls, and intelligent systems. More recently, this transformation has been accelerated by the ongoing adoption of machine learning and AI applications with the rise of big data use in the energy sector.

In this session we will explore, with our esteemed guests, some of the digitisation themes in the artificial lift community and how they can lead this transformation in our industry. We will engage in discussions regarding maintaining the status quo versus what the future could bring. We will also explore promising applications in the areas of performance optimisation, failure prediction, and autonomous controls, while keeping an eye on safety, systems’ integrity, and the financial implications.