Exxon Utilizes AI for Faster Oil Exploration

Exxon Mobil is employing artificial intelligence (AI) and high-performance computing to accelerate the analysis of seismic data from its oil fields in Guyana, according to John Ardill, the company's vice president of exploration, who spoke on Tuesday at the Offshore Technology Conference in Houston. This technological integration allows for the interpretation of complex seismic data within days, a process that previously required months.

The application of AI, including deep learning and reinforced learning, enables the rapid identification and prioritization of geological anomalies for further validation by human interpreters.

This advanced analytical capability is being extended globally, allowing Exxon to re-evaluate oil prospects that were previously deemed uneconomic. The company anticipates completing seismic acquisition in its offshore block in Trinidad and Tobago by the end of the year, with geological similarities to Guyana and Angola being a focus. The objective is to leverage technology to reduce break-even costs, particularly in regions like Alaska, where operational expenses are historically higher.

Ardill emphasized that these technological advancements and a diversified global supply base are crucial for mitigating risks associated with global supply disruptions, such as those stemming from Middle East conflicts. Projects in the Permian Basin and Guyana, with break-even oil prices below $30 per barrel, are strategically important in this context. The company seeks to create investment conditions that align political and commercial terms to unlock resource potential in various regions.