Exxon Mobil partners Microsoft to use cloud technology to boost profitability

Microsoft Corp is set to use cloud technology in motoring U.S. shale oil production.

This will help to boost profitability in the nation’s largest shale field.

The companies will collect data from Exxon’s wells and other production assets in the Permian Basin of West Texas and New Mexico, where the world’s largest publicly traded oil and gas company holds 1.6 million acres, and
make it immediately accessible to Exxon workers.

Though the value of the agreement was not disclosed, Exxon says the partnership is the industry’s largest deal in cloud computing.

The technology would allow equipment leaks to be immediately detected to reduce repair times in remote locations, and apply artificial intelligence to analyze drilling and completions data.

(TVC)