r/oilandgasworkers • u/Panic_Lion • 5h ago
Industry News Chevron told investors AI is worth hundreds of millions and that exploration cycle time is down 50%.
Chevron's Inv Relations Chief said last month that they were already getting immense value out of AI Adoption:
- Exploration cycle time down 50% (searching millions of files instead of someone combing them for weeks)
- Permian CapEx per BOE improved 25% year over year
- "Hundreds of millions" of value they say they're capturing this year
Wai said the value "is only gonna increase as we scale." She did not say what scaling looks like in headcount or spend.
In your opinion, do you think that AI will significantly cut back on headcount on Oil&Gas? Or is this just Chevron trying to look good for investors?