IBM, Wintershall Dea collaborate on major AI initiative
LONDON, UNITED KINGDOM — Europe’s eminent oil and gas company, Wintershall Dea, has joined forces with IBM Consulting to amplify its artificial intelligence (AI) efforts to enhance energy production efficiency.
This partnership will establish an AI Centre of Competence (CoC) and initiate over 80 AI-focused projects. Having ties with both entities, Microsoft will provide technological support using its Microsoft Azure platform, which Wintershall Dea already employs for data management.
Post their 2019 merger with DEA (Deutsche Erdoel AG), Wintershall Dea has recognized the massive potential of AI in maximizing their combined data assets. This realization has led them to integrate AI extensively within their operations. The proposed efficiency enhancements not only foresee cost savings but also fund further advancements in sustainable energy production techniques.
“Driving value through AI definitely is top of mind at every step we are conducting at the CoC. And we already have several proof points that the AI projects empower our workforce and support our business objectives,” said Ulrich Lorang, Vice President of Data Science, Data Governance and Data Hub at Wintershall Dea.
German conglomerate BASF holds a majority 72.7% stake in Wintershall Dea, while the remaining is owned by Russian investors Mikhail Fridman, Petr Aven, and German Khan.
In 2022, Wintershall Dea made €5.9 billion (US$6.5 billion) in EBITDAX or ‘Earnings Before Interest, Taxes, Depreciation (or Depletion), Amortisation, and Exploration Expense.’
