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Challenging the status quo with AI in Oil & Gas

Challenging the status quo with AI in Oil & Gas

According to Mckinsey, Artificial Intelligence (AI) continues to grow and generate more returns with nearly 25% in annual increase in technology usage. However, still much work remains to scale impact, in particular, when it comes to the oil & gas industry.

Globuc had the opportunity to speak to Tom Savels and Norbert Dolle, cofounders of White Space Energy. We talked about the idea underpinning the company’s AI solutions as well as bringing change and challenging the status quo.

*White Space Energy is a 2019 startup from the Netherlands. The company delivers game-changing AI solutions for complex decision problems.

Q: What is it that you wanted to achieve when you decided to leave Shell early 2019 and start White Space Energy?

We wanted to bring change, real change. Oil & Gas industry is stuck in 20th century thinking. Despite all the digitalization PR thrown around, our fundamental processes have barely changed. Because we are stuck, we accept slowness, shortcuts and incomplete analyses.

So, our mission was to challenge that status quo to show how we can do much better and to do this on the most complex high-stake decision-making problems that our industry is facing.

These problems are still often addressed with spreadsheets, gutfeel and experience. This leaves value on the table, introduces risks to safety and environment, wastes resources and demotivates staff.

Using AI to make better and faster decisions will catapult the industry into today's world. Optimising our operational decisions will support our societal license to operate. Better strategic decisions will safeguard a continued and affordable global energy supply. Organisational change will allow us to attract and keep the best young talent for decades to come.

White Space Energy is awarded "Most Innovative Start-Up 2019" at IoT and Digital Solutions for Oil & Gas event in Amsterdam. From left to right: Jivko Gadjourov (CEO, Globuc), Norbert Dolle and Tom Savels (Co-founders, White Space Energy)

Q: White Space Energy was voted “Most Innovative Start-Up 2019” at last year’s IIOT and Digital Solutions for Oil & Gas in Amsterdam. What is it that makes your value proposition so innovative?

We are definitely frontrunners in applying the latest Game AI to real-life business problems in Oil & Gas. But to us, this is an incomplete answer to the question. Technology or AI algorithms are worthless without actual deployment and applications.

The real innovation that we bring is that we don't shy away from the most complex problems, we embrace and attack them. We also firmly believe in problem-centric tailoring of AI solutions to maximize business value. So, in contrast to rigid and black box software products, we offer a bespoke and flexible service and we underpin this service with decades of insider experience.

Q: What will we see and hear from White Space Energy in 2020, now at Go Digital Oil & Gas Middle East summit in Abu Dhabi?

You will continue to see us challenging the status quo.

Together with our expanding network of partners, we will show the industry what good looks like. How we can use AI to make much better and faster business decisions. How we can get ourselves unstuck from our 20thcentury thinking.

So, what will you see and hear: more practical use cases, more thought leadership, more partners and more change.

Find more information about White Space Energy on the website.

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