Shell Collaborates With AI Technology Firm To Reduce Exploration Days: Report

Shell PLC SHEL has reportedly collaborated with big-data analytics firm SparkCognition to use AI technology in deep-sea exploration.
The company will use SparkCognition capabilities to identify new oil reservoirs by analyzing vast seismic data, reported Reuters.
The technology is expected to boost operational efficiency and production via reducing explorations to below nine days from nine months.
"We are committed to finding new and innovative ways to reinvent our exploration ways of working," the report quoted Gabriel Guerra, Shell's of innovation and performance.
This month, Shell reported strong Q1 2023 results, with adjusted EBITDA of $21.4 billion, higher than $19.0 billion a year ago, on solid operational performance, a decline in underlying operating expenditure and improved performance in Chemicals & Products.
Price Action: SHEL shares are trading higher by 0.55% at $60.24 premarket on the last check Wednesday.