Poland’s PGNiG expects AI to boost gas recovery
Polish energy company PGNiG said June 14 that deploying advanced digital technology at its production assets could significantly stimulate recoverable natural gas reserves.
The company deployed its so-called Smart Field project that utilises digital technology upstream. PGNiG said it expects its domestic recoverable natural gas reserves could increase by as much as 7.3bn m3 by using advanced digital technology through 2022
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“With artificial intelligence, machine learning and cloud solutions, we will be able to speed up analytical processes and increase the amount and detail of data processed,” said Pawel Majewski, the president of PGNiG’s board. “This will help us improve the operational and financial efficiency of PGNiG’s exploration and production activities.”
Core earnings (Ebitda) at Polish gas supplier PGNiG climbed 63% year/year in the first quarter to $913mn on the back of increased oil and gas prices.
PGNiG's upstream business accounted for 40% of Ebitda, while distribution contributed 30%, trade and storage 15% and generation 14%. Net profit shot up 124% yr/yr, arriving at 1.75bn zlotys.
The company also expanded gas output to 1.24bn m3, from 1.16bn m3, while oil production was broadly flat at 328,000 metric tons.
“Based on the results of previous digital projects, the application of IT technologies to support PGNiG’s exploration and production activities will increase domestic recoverable natural gas reserves by over 11 bn m3 in 2019–2022 and provide an opportunity to tap into these resources,” the company stated. “What is more, it will help to extend the field life by an average of 10 years.”