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Artificial Intelligence (AI) in the Oil & Gas Market, Forecast to 2028: Integrating AI with Legacy Systems Remains a Challenge

The oil and gas industry is poised for a digital revolution with the surge in Artificial Intelligence (AI) integration, as detailed in a new research publication. The market, currently valued at USD 3.37 billion in 2022, is expected to experience unprecedented growth with a compound annual growth rate (CAGR) of 12.62% through 2028. This surge

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AVEVA opens global design competition for AI-powered solutions

AVEVA has announced the initiation of its first-ever AVEVA E3D Design Competition. The contest extends a global invitation to users, encouraging them to devise innovative solutions using AVEVA E3D Designs’ artificial intelligence (AI) and machine learning (ML) module to navigate business challenges associated with their organisations. AVEVA E3D Design fosters potent visualisation and collision-free, multidiscipline

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Welligence Energy Analytics Announces $41 Million Minority Growth Equity Investment

Welligence Energy Analytics, an energy data & intelligence firm specializing in global oil and gas markets, greenhouse gas emissions, and projects related to carbon capture storage and utilization (CCUS), has raised $41 million in growth capital. The investment, which represents a minority stake in the company, was led by Elephant with participation from Veriten, EDG Group, and several

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Kodiak Unveils Industry-First Semi-Truck Designed for Scaled Driverless Deployment

 Kodiak Robotics, Inc., a leading self-driving trucking company, today introduced the world’s first driverless-ready semi-truck designed for scaled deployment. It is equipped with all the necessary redundant safety-critical hardware, including braking, steering and sensors, as well as the software required for driverless operations at scale. Kodiak’s sixth-generation truck further enhances the overall reliability of the

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JSX orders up to 330 hybrid-electric regional airplanes

U.S. regional air carrier JSX on Tuesday announced plans to buy more than 130 hybrid-electric aircraft from three start-up companies, with options that could bring orders past 330 planes. The carrier made firm orders for 50 19-seat Era aircraft from France’s Aura Aero, 50 30-seat ES-30s from Sweden’s Heart Aerospace, and 32 9-seat aircraft from

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Halliburton Labs to collaborate with seven new companies to advance energy, climate innovation

Accodring to World Oil, Halliburton Labs announced Airovation Technologies, Ayrton Energy, Cache Energy, CENS, Disa Technologies, Marel Power Solutions, and XtraLit as the newest participants in its collaborative environment. This is part of Halliburton Labs’ ambition to advance energy and climate innovation and help early-stage companies by contributing expertise, connections, facilities, and more to help

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bp looks to leverage power of generative AI with Copilot for Microsoft 365

bp has announced that it will be expanding the use of generative AI to enhance its global employee experience through the use of Copilot for Microsoft 365. bp is one of the first companies globally to act as a launch partner for the ‘intelligent AI assistant.’ bp will be able to roll out access at

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CNOOC and Bureau Veritas sign a strategic cooperation framework agreement

The agreement includes scientific and technological innovation in offshore oil and gas engineering and construction, green and low-carbon transformation and development, LNG and new energies, and mid- and downstream industries The China National Offshore Oil Corporation (CNOOC), the largest offshore oil and gas production operator in China, has signed a strategic cooperation framework agreement with

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Baker Hughes unveils Druck hydrogen pressure sensor tech

Baker Hughes has introduced its latest hydrogen pressure sensors, signaling its entry into the hydrogen market. The technology, known as the Druck hydrogen-rated pressure sensors, provides long-term stability while remaining resilient in challenging environments. The hydrogen pressure sensors find utility across diverse applications, such as gas turbines, hydrogen production through electrolysis and hydrogen refueling stations.

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Petrobras to receive OTC award for new well technology

Petrobras PBR will receive the 2023 OTC Brasil Distinguished Achievement Award for its development of a new well construction/intervention technology that combines a moored BOP (blowout preventer) with real-time riser analysis.  This award is important because it recognizes PBR’s significant contributions to the development of innovative well technology in the global offshore industry. The award

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Equinor selects Nauticus Robotics for leak detection technology

According to Offshore Technology,  Equinor, a Norwegian state-backed oil and gas company, has selected Nauticus Robotics and its partner Stinger Technology to deploy Nauticus’ proprietary technology for leak detection. US-listed Nauticus is developing ocean robots and artificial intelligence for autonomous services to the marine sectors. The deal aims to demonstrate and qualify Nauticus’ leak detection

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Baker Hughes wins significant gas technology contract to support Equinor project offshore Brazil

According to World Oil, Baker Hughes has been awarded a significant order, to be booked in the second quarter of 2023, by MODEC to supply gas technology equipment for the BM-C-33 project in the Brazilian pre-salt Campos area. The project is developed by Equinor with partners Repsol Sinopec Brasil and Petrobras. The order comprises of

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