Baker Hughes and C3 AI Deploy Enterprise AI Solutions at MEG Energy for Improved Efficiency of Thermal Production Operations

Rhea-AI Summary

MEG Energy has deployed BakerHughesC3.ai's BHC3 Production Optimization AI application to enhance upstream oil and gas production. This implementation aims to improve operational efficiency and increase productivity, while also visualizing risks in production operations. The BHC3 technology utilizes machine learning to monitor and optimize over 300 thermal production wells, contributing to sustainability goals by reducing energy and water usage. Baker Hughes and C3 AI emphasize that enterprise AI is crucial for extracting economic value from complex production data.

Positive

• Successful deployment of BHC3 Production Optimization will enhance operational efficiency.
• Predictive analytics will optimize management of over 300 thermal production wells.
• Focus on sustainability by reducing energy and water usage in production.

Negative

• None.

• MEG Energy has successfully deployed the BakerHughesC3.ai (BHC3) enterprise AI application BHC3 Production Optimization for maximizing upstream oil and gas production and recovery
• BHC3’s enterprise artificial intelligence and machine learning capabilities add predictive intelligence at-scale to MEG Energy’s existing digital programs for production operations

HOUSTON & REDWOOD CITY, Calif.--(BUSINESS WIRE)-- Baker Hughes (NYSE: BKR) and C3 AI (NYSE:AI) today announced the successful deployment of the BHC3 Production Optimization enterprise AI application at MEG Energy, an Alberta, Canada-based energy company, to improve operational efficiency, productivity, and to better visualize risk across the company’s upstream production operations.

MEG Energy leverages innovative technology to reduce energy and water use, along with greenhouse gas intensity, while improving the efficiency and sustainability of thermal oil production. The adoption of BHC3's enterprise AI solutions will accelerate MEG Energy’s use of digital solutions to further improve the efficiency of steam-assisted gravity drainage (SAGD) production.

MEG Energy has worked with energy technology, data science, and AI experts at Baker Hughes and C3 AI to train, develop, and apply machine learning models and analytics using historical and real-time data. The enterprise AI-based BHC3 Production Optimization application monitors moment-to-moment operations, allows seamless integration between engineers and field staff, and creates actionable predictive insights to enhance the daily operational workflow for production engineers and operators, with customized analytics-based alerts and virtual meters providing measurements for emulsion, gas, and vapor across more than 300 thermal production wells.

“BHC3’s advanced enterprise AI-based solutions will further enable the differentiated, proprietary technology we utilize to ensure safe, sustainable production of energy,” said Chief Technology Officer Chi-Tak Yee, MEG Energy. “Enterprise AI has successfully demonstrated it can improve visibility, workflow management, and overall productivity of operations.”

“Enterprise AI software creates new pathways to efficiency and productivity for today’s upstream industry,” said Uwem Ukpong, executive vice president of regions, alliances and enterprise sales at Baker Hughes. “This is an exciting deployment, as BakerHughesC3.ai solutions are now serving MEG Energy’s technology and operational excellence objectives with scaled, domain-specific enterprise AI.”

“Extracting significant economic value from complex production data requires enterprise AI,” said C3 AI Chief Technology Officer Ed Abbo. “The BHC3 Production Optimization application, powered by the underlying capabilities of the BHC3 AI Suite, is tried, tested and proven to deliver predictive intelligence at scale to increase productivity, reduce risk, and help meet the environmental targets that are critical to ensuring future energy and climate security.”

About Baker Hughes:

Baker Hughes (NYSE: BKR) is an energy technology company that provides solutions to energy and industrial customers worldwide. Built on a century of experience and with operations in over 120 countries, our innovative technologies and services are taking energy forward – making it safer, cleaner and more efficient for people and the planet. Visit us at bakerhughes.com.

About C3.ai, Inc.

C3.ai, Inc. (NYSE:AI) is the Enterprise AI application software company that accelerates digital transformation for organizations globally. C3 AI delivers a family of fully integrated products: C3 AI® Suite, an end-to-end platform for developing, deploying, and operating large-scale AI applications; C3 AI Applications, a portfolio of industry-specific SaaS AI applications; C3 AI CRM, a suite of industry-specific CRM applications designed for AI and machine learning; and C3 AI Ex Machina, a no-code AI solution to apply data science to everyday business problems. The core of the C3 AI offering is an open, model-driven AI architecture that dramatically simplifies data science and application development. Learn more at: www.c3.ai

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C3 AI Public Relations

Edelman

Lisa Kennedy

415-914-8336

pr@c3.ai

Investor Relations

ir@c3.ai

Baker Hughes Contacts:

Media Relations

Ashley Nelson

+1 925-316-9197

Ashley.nelson1@bakerhughes.com

Source: C3.ai

FAQ

What is BHC3 Production Optimization and how does it benefit MEG Energy?

BHC3 Production Optimization is an AI application deployed by MEG Energy to improve operational efficiency, enhance productivity, and visualize risks in upstream oil and gas production.

How many thermal production wells does BHC3 Production Optimization monitor?

The BHC3 Production Optimization application monitors over 300 thermal production wells.

What are the sustainability efforts associated with the deployment of BHC3 Production Optimization?

The deployment aims to reduce energy and water usage while improving the efficiency of thermal oil production.

What companies are involved in the deployment of BHC3 Production Optimization?

The deployment involves Baker Hughes and C3 AI, both contributing their expertise in AI and machine learning.

What stock symbols are associated with Baker Hughes and C3 AI?

Baker Hughes is listed under NYSE:BKR and C3 AI under NYSE:AI.