GITNUX MARKETDATA REPORT 2024

Ai In The Natural Gas Industry Statistics

AI in the natural gas industry statistics should help enhance operational efficiency, optimize resource allocation, and improve decision-making processes.

Statistic 1

"As of 2021, approximately 73% of oil and gas executives report that their organizations have begun using AI technologies at a moderate or extensive level."

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Statistic 2

"AI in the oil and gas market was valued at $2.02 billion in 2020 and is estimated to reach $4.01 billion by 2028."

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Statistic 3

"AI technologies help natural gas companies reduce operational costs by 13%, on average."

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Statistic 4

"AI can reduce unplanned downtime in the natural gas industry by predicting equipment failures, potentially saving millions per year in maintenance costs."

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Statistic 5

"Artificial Intelligence can increase revenue in the natural gas industry by 10% or more according to Cognite."

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Statistic 6

"AI is enabling the industry to expedite natural gas exploration, potentially reducing the timeline by 30-50%."

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Statistic 7

"Among natural gas companies, 42% intend to spend more than 20% of their digital budgets on AI over the next few years."

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Statistic 8

"Predictive analytics, part of the broader AI discipline, can help the gas industry reduce maintenance costs by 12%."

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Statistic 9

"AI can help oil and gas companies find reserves up to 20% faster, according to research by Ernst & Young."

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Statistic 10

"Increased adoption of AI in the oil and gas industry can generate as much as $425 billion of value for businesses by 2025."

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Statistic 11

"Close to 70% of oil and gas companies recently surveyed by EY said they plan to adopt AI by 2022."

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Statistic 12

"AI can provide a 5% reduction in drilling costs for the Oil & Gas sector."

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Statistic 13

"AI enables 97% accuracy in drill bit degradation prediction, minimizing equipment failure."

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Statistic 14

"The use of AI can help to reduce carbon emissions in natural gas production by up to 12%."

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Statistic 15

"Big Data and AI can result in an 8 to 12% increase in production volume in the Oil & Gas sector."

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Statistic 16

"In the Oil & Gas industry, AI can improve the effectiveness of health and safety programs by 30%."

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Statistic 17

"With AI support, gas flaring was reduced by 22% globally in 2020."

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Statistic 18

"AI could add $5.2 trillion to the global GDP by 2030 by increasing productivity in many sectors, including natural gas."

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Statistic 19

"By 2035, AI could boost global energy productivity by over 20%."

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Statistic 20

"In the U.S, 14% of natural gas companies are currently using AI technology for their operations."

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