Renaissance Africa Energy Company Limited is betting that artificial intelligence can breathe new life into hundreds of oil wells destined for abandonment, potentially unlocking significant value from assets written off using conventional exploration methods.
Tony Attah, managing director and chief executive officer of the Nigerian energy company, told attendees at the PwC-BusinessDay Outlook event that AI-powered reinterpretation of seismic data could reveal bypassed reserves in more than 300 wells currently earmarked for decommissioning.
