AI solution assessment for well abandonment risks and cost estimation [oil & gas]
Discover how our team delivered an AI proof of concept and conducted a solution assessment for an oil & gas company.
KEY INSIGHTS
Bridging Data and Domain Expertise
By combining advanced ML techniques with deep industry knowledge, the solution delivered accurate, explainable predictions.
From Raw Data to Actionable Intelligence
Our team transformed fragmented well data into a unified, clean dataset, enabling precise risk and cost estimation for well abandonment planning.
About the client
Our client provides robust, data-driven solutions for effective liability and risk management in the oil & gas and energy sectors. Their services leverage data integrity, analytical precision, and financial foresight, ensuring responsible asset management and strategic decision-making.
Project Scope
In close collaboration with industry experts we discovered an opportunity and iteratively came up with technical objective of the project. Technical team designed and implemented AI/ML fueled approach to estimate well abandonment risk factors and costs. This helps well’s operators plan budgets and allocate resources in a precise and effective way.
Global Well Data Structuring, Cleaning and Analysis
Data is a foundation of any AI/ML driven project. Therefore, as the first task our team worked on data enhancement and cleansing, ensuring its consistency and accuracy. Integrated disparate data sources to create a unified dataset for further in-depth analysis.
EDA and Feature Engineering
Prepared extensive and detailed report on available data, possible correlation/casuation insights, data quality and distributions. Combining deep domain understanding and advance toolset for data analysis and feature engineering created flat-structure like data set suitable for further AI/ML work.
AI/ML Model Selection and Training
Designed and developed setup for iterative AI/ML and feature engineering experiment. Made an educated decision on preprocessing steps, set of features and model design.
Well Status Predictions and Data Visualization
Developed approach successfully used to estimate well abandonment risk factors and costs. The selected approach allowed us to get both – highly confident results and their explanation, which was appreciated and welcomed by domain’s experts.
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The app Crunch worked on is clean, streamlined, and functions as intended. Crunch goes above and beyond to ensure that both teams are in tune. The passionate team crafts an enjoyable experience through their positive demeanor and effective project management skills. The team was very friendly, and working with them was a pleasure.
By refactoring the architecture, implementing AI-driven data preprocessing and visualization, and streamlining deployment with DevOps, we delivered a scalable, cost-effective solution.
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