Cloud, AI, and 5G Reshaping the Oil and Gas Industry; Huawei Virtual Summit 2020

huawei oil and gas

The Huawei Oil & Gas Virtual Summit 2020, exploring ‘Data to Barrel’, hosted online. The summit gathered global customers, industry partners, and thought leaders, representatives from the Abu Dhabi National Oil Company (ADNOC), Schlumberger SIS, and the former Chief Information Officer (CIO) of TOTAL to helping oil and gas companies increase profits while cutting costs. In the first half of 2020, due to the global economic downturn, international oil prices fell to a low of 30 dollars per barrel. In May, West Texas Intermediate (WTI) crude oil futures prices even turned negative. So, the oil and gas industry has entered an extremely difficult period.

Huawei is working hard to help oil and gas customers cope with current challenges. Huawei has already helped oil and gas customers achieve digital transformation using elastic computing, big data analytics, AI, and cloud data centers, also promoting the construction of intelligent oilfields.

Huawei built a computing AI platform for an industry customer, to implement AI training and big data analytics, this led to an increase in both oil and gas reserves and in production.

Solutions have been implemented in various scenarios, including:

  • Artificial-lift fault diagnosis
  • Well-logging and reservoir identification
  • Seismic first arrival wave identification
  • Extracting significant value from formerly ‘useless’ data

Zhang Tiegang, former Deputy Chief Engineer of the Exploration and Development Research Institute at Daqing Oilfield explained that seismic exploration technologies to detect oil and gas reserves have been the method of choice for most oil companies.

Huawei is empowering many industries through 5G networking. 5G technologies are changing the operation modes of seismic data collection, innovative ICT technologies will reshape the oil and gas industry. David Sun at the Huawei Oil & Gas Virtual Summit 2020 SAID, “According to IDC’s latest survey, Chinese industrial users see Huawei as the digital transformation leader, ranking number one. In the future, we hope to share Huawei’s digital transformation capabilities and experiences in China’s oil and gas industry with global customers, to help achieve ever greater business success”.

You can read more details here.

Recent News

Related Posts