Exxon Introduces Microsoft's Cloud Platform to Increase Oil Production in Texas

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Exxon (XOM) It will use Microsoft technologies, including the Azure cloud platform, machine learning and the Internet of Things to collect oilfield data in real time, speed up drilling decisions, prioritize deployments of personnel , detect leaks and monitor greenhouse gas emissions.

Exxon, which covers 9.5 billion barrels of oil and natural gas over 1.6 million acres, said the partnership with Microsoft was the industry's largest deployment of cloud computing technology.

The shale sector is "fast-moving, complex and data-rich, making it well-suited to applying digital technologies to strengthen our operations and contribute to greater value-added," said Staale Gjervik 'Exxon to the development of the Permian Basin, a statement.

Using Microsoft's cloud technology, Exxon said it hopes to generate "billions of dollars in value" over the next decade and increase its oil production by 50,000 barrels a day by 2025.

Exxon said it would be able to use third-party solutions, including mobile field data applications and artificial intelligence algorithms to analyze drill data.

Achieving Exxon as a customer is a big advantage for the growing Microsoft platform, Azure, which competes with Amazon Web Service and other cloud platforms. Microsoft is heavily focused on the cloud, which has seen revenue rise 48 percent in the last quarter to $ 9 billion.

Wall Street is keen that Exxon increase its lazy oil production. The Exxon Texan company was behind the shale oil boom that took place in its backyard. Although oil production in the United States has skyrocketed – doubling over the last decade – Exxon has struggled to keep up.

But Exxon has invested heavily in recent years to acquire oil shale assets, and these investments are beginning to bear fruit. Exxon's US oil production jumped 11% in the fourth quarter, driven by a 90% increase in the Permian Basin. At the same time, Texas broke an oil record in 45 years by pumping 1.5 billion barrels in 2018.

"ExxonMobil paves the way for the industry, setting targets by making data-driven decisions that will make operations safer for its employees and more profitable operations," said Alysa Taylor, vice president of industry. Microsoft's applications and industry, in the statement.

Exxon is not the first big oil company to turn to the cloud.

In October 2017, Chevron (CLC) announced its intention to use the Microsoft Azure platform to digitize its oil fields and improve its drilling efficiency.

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