Artificial intelligence could add $500 billion to oil and gas companies by 2030

Source Domain: www.economies.com

Estimates from Rystad Energy suggest that digitalization and artificial intelligence technologies could generate nearly $500 billion in cumulative value for oil and gas exploration and production companies between 2026 and 2030.

This value is expected to be achieved through:

• Lower costs by improving operational efficiency

• Higher production through increased uptime and enhanced recovery rates

• Shorter project development timelines

Cost savings and production growth are expected to be the two largest sources of value through 2030, with both contributing at similar levels.

Exploration and production companies currently investing in digitalization and AI are expected to generate an additional $80 billion annually by 2030 compared to 2025 levels.

Results are already beginning to emerge across the sector.

ADNOC announced that AI-driven initiatives generated $500 million in value during 2023, while allocating $1.5 billion to digital spending with the goal of achieving $1 billion annually in added value.

Meanwhile, Equinor achieved nearly $200 million in AI-related savings between 2021 and 2024, before recording another $130 million during 2025 alone.

The report noted that digital value creation follows an accelerating cumulative curve as adoption expands and organizational capabilities mature within companies.

The estimated $500 billion opportunity is distributed across four main categories:

• Asset development

• Operations and maintenance

• Exploration and reservoir development

• Drilling, wells, and production

Digital maturity levels vary across these segments. Operations and maintenance currently show the fastest adoption pace, particularly through predictive maintenance and remote operations, which have reduced costs by double-digit percentages at some major companies.

Subsurface and reservoir-related activities are viewed as having the largest untapped potential,…

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