Dubai PR Network, Online Press Release from Dubai and Middle East
 
Oil & Gas(Energy and Industry)
Filter PR by
  
Oil and Gas industry's digital transformation fast tracked as Middle East energy companies seek faster and leaner exploration and production
 

Investment in AI, big data and analytics could cut capital expenditure by 20 percent and add $300 billion a year to offshore cash flows by 2025 

Digital innovation to drive unprecedented era of oil and gas productivity as global energy demand continues to rise
 
ADIPEC 2019 to bring together industry thought leaders to explore the nexus between break though technologies and energy

Abu Dhabi, UAE – 23 July 2019 – Digital transformation of the oil and gas industry in the Middle East and North Africa continues to be fast tracked, as energy companies across the region ramp up investment in technologies supporting faster and leaner exploration and production and optimisation of costs.
 
In the past five years the MENA region has seen a tight focus on cost reduction, as oil and gas companies have responded to changes in the energy market, with much of the industry’s research and development spend focused on technologies to enhance the efficiency of new and existing projects.
 
According to management consultants McKinsey, effective use of digital technologies, such as cloud, the Internet of Things (IoT), mobility, artificial intelligence (AI), virtual reality (VR), big data and analytics could cut capital expenditure by up to 20 percent. At the same time, it forecasts that total cash flows will improve by $11 per barrel across the offshore oil and gas value chain, adding $300 billion a year by 2025.
 
In a recent announcement made by the organisers of the Abu Dhabi International Petroleum Exhibition and Conference, ADIPEC, dmg events. Greg Cross, Artificial Intelligence Pioneer, Serial Entrepreneur, Co-Founder and Chief Business Officer of Soul Machines was confirmed to headline the event as a keynote speaker at Oil & Gas 4.0, the Strategic Conference at ADIPEC.
 
“Accepting change, understanding the unknown, can always be a challenge. In today’s fast-paced digital world, artificial intelligence is enhancing the business environment, helping corporations to become more efficient and connected.
 
Digital Humans change how we interact with customers and can facilitate everyday assignments in a more productive and cost-effective manner. At Oil & Gas 4.0, I will be discussing how digital humans can become an integral part of the workforce, and the ethics, liability and governance behind today’s digital society.” Cross said. 
 
Oil & Gas 4.0, the strategic conference at ADIPEC 2019 will feature conference sessions that will explore the nexus of technology and energy, including the links between digital transformation, people and partnerships, that are enabling change and creating the basis to build the oil and gas companies of the future. Meanwhile the ADIPEC exhibition will host the ADIPEC Digitalisation Zone, a dedicated area that will provide a platform for companies at the forefront of today’s technology trends and the industry’s journey of digital transformation.
 
Since its inauguration in 1984, ADIPEC has continued to grow, gaining worldwide recognition as the premier oil and gas industry exhibition and conference. The exhibition brings together over 2,200 international exhibiting companies across 155,000 gross square metres, with 29 country pavilions, attracting over 145,000 global attendees and 42 National and International Oil Companies. The conference hosts over 980 strategic and technical speakers across more than 160 sessions, covering the full energy value chain and attracting over 10,400 delegates.


Posted by : Dubai PR Network Editorial Team
Viewed 6954 times
PR Category : Energy and Industry
Posted on : Tuesday, July 23, 2019  12:58:00 PM UAE local time (GMT+4)
Replication or redistribution in whole or in part is expressly prohibited without the prior written consent of DubaiPRNetwork.com.
Previous Story : ADNOC and Pertamina Sign Comprehensive Strategic Framework i...
Next Story : Mubadala Petroleum to farmout a 20% participating interest i...
Email this article Print this article

Share this article with your friends and followers
NewsVine
Back to Section Home

Related Stories



 
 
Most Viewed Press Release posted in the last 7 days
Drops of Youth [14426-Views]
Go Neutral with Palladio Beauty [11871-Views]
Valentine's Gifts to Fall in Love With [11401-Views]
Reveal Your Cosmic Beauty With These Gift Sets From Wet n Wild [10986-Views]
Start the Year with Gorgeous Glowing Skin with a Little Help from DERMAdoctor [9443-Views]
The Tag Heuer Autavia [8839-Views]
Corum Admiral's Cup Legend 47 Worldtimer' [8772-Views]
Regulator at pole position [8595-Views]
Parmigiani Fleurier creates horological history with world's first wristwatch with Islamic... [8479-Views]
Dubai Jewellers Expect a Steady Sale During the 25th Dubai Shopping Festival Promotion [7991-Views]
Kanz Jewels proves to be a lucky destination for jewellery shoppers during DSF 2020. [7784-Views]
Malabar Gold & Diamonds - New Store opened in Kanpur, UP, India [7674-Views]
OMEGA Ready to Time The Winter Youth Olympic Games Lausanne 2020 [7619-Views]
The Winter Youth Olympic Games Lausanne 2020 [7594-Views]
Show your Support for Australia alongside THT – That Hair Tho [7204-Views]
Eberhard & Co. Gilda timepiece makes an extraordinary Valentine's Day gift [6905-Views]
Corum And Joachim Horsley Light Up The Folies Bergère [5984-Views]
Zeitun Cosmetics Launch in UAE [5972-Views]
Foreo Reveals the Ultimate Valentine's Gift List for Women [5301-Views]
Seha Leads Discussions in Pediatric Medicine [5118-Views]
Valentine's Day Fashion and Gifting - Steve Madden [4843-Views]
Spice It Up With Szechuan! Shake Shack is Celebrating the Chinese New Year With an Asian-i... [4648-Views]
Elegant diamond-swathed Kalpa Kalparisma set to dazzle fine watch enthusiasts [4319-Views]
Marks & Spencer Welcomes Spring with its Midi Dress Edit [4270-Views]
Fashion and Gifting for Valentine's Day - ECCO [4246-Views]
 
RSS Facebook Twitter LinkedDin
 
Top Sections
 
Top Stories