Oil and gas (O&G) sources will still supply around 50% of the global energy demand by 2040.a In this article, we make the case for why the Arab region is well positioned for building world-class data science teams to fill the supply shortage of data professionals,5 especially in the O&G field critical to region's economy. This article presents challenges facing O&G industry players, such as governments, regulatory bodies, operators, and investors, and shows how Raisa Energy (with its Egypt-based data science team) is efficiently and effectively solving these challenges. Such challenges aim at assessing the economic viability of an O&G asset that depends on several factors (as shown in the accompanying figure) such as estimating well production, O&G prices, and risks associated with inputs uncertainty. It is worth emphasizing that the challenges presented here are global in nature and yet are tackled with a team fully formed from the region working at a world-class research and development level. We hope this article will motivate academics and practitioners to tackle challenges within O&G using data science technologies.
The Arab region is well suited for building data science teams serving a global market specially for the O&G industry:
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