The highly unpredictable Oil and Gas industry has always been a hotbed of uncertainties. The fact that companies need to bid for multi-year leases for exploration and drilling rights, without any certainty about the profitability of the enterprise, makes it even more risky. The sector generates a huge amount of data that could be structured and analyzed to enable better, more insightful and better-informed decisions. Effectively using data and analytics, along with AI, can be the biggest decision support for bidding activities for lease in Oil and gas industry,” says Siddhartha Ray, Delivery Manager, Hi-Tech in an article published by Industrial Automation.
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