Energy CEOs embrace digitalisation as new tech transforms oil, gas industry

ABU DHABI / Emirates Business

Digitalisation is the number-one trend driving CEO decision-making in the global oil and gas sector. According to recent research by international consulting firm, McKinsey, a range of interconnected emerging technologies have the power to unlock a potential $50 billion in savings and increased profit. Encompassing fields such as artificial intelligence (AI), blockchain, robotics, sensor technology, machine learning, deep learning, and edge computing, digitalisation is expected to cut capital expenditure by 20 percent, with operating costs in upstream cut 3-5 percent and 1-3 percent in downstream.
The related benefits to energy companies, their customers, and the wider society, are even greater, estimated to reach $1.6 trillion over the next seven years, according to data presented at the 2017 World Economic Forum Annual Meeting. Environmental benefits include reducing CO2-equivalent emissions by approximately 1,300 million tonnes, saving about 800 million gallons of water, and avoiding oil spills equivalent to about 230,000 barrels of oil.
Responding to the high importance being placed on digital transformation and disruption by industry decision-makers, unlocking the opportunities that will flow from digitalisation will be a key focus for the 2018 edition of the world’s leading oil and gas event, the Abu Dhabi International Petroleum Exhibition and Conference (ADIPEC).
“Digitalisation is an urgent priority for industry CEOs and business leaders, offering cost savings, operational improvements, and safety and environmental gains that will reach into every corner of the business, but the opportunities come with risks that must be understood and navigated,” said Jean-Philippe Cossé, Vice President – Energy at dmg events.
Conference sessions for the downstream refining and petrochemicals sector, introduced for 2017, will return to ensure that ADIPEC covers each link in the oil and gas value chain. The co-located waterfront Offshore and Marine Exhibition and Conference will add a commercial dive zone, while other returning features include the ADIPEC Awards, which celebrate excellence in energy, and Young ADIPEC, a dedicated ‘edutainment’ programme designed to encourage students to choose a career in energy.
New for 2018 will be an Inclusion and Diversity in Energy conference programme, continuing and expanding on the work of the Women in Energy conference in previous years.
Hosting more than 80 ministers, CEOs, and global oil and gas business leaders as speakers, ADIPEC brings together the companies, decision and policy makers that shape the future of oil and gas supply, for four days of focused business, dialogue and knowledge transfer that addresses today’s energy challenges and defines
tomorrow’s hydrocarbon landscape.
ADIPEC’s international technical and strategic conference spans 200 sessions, with 980 expert speakers and over 10,400 delegates. The technical conference programme, organised in collaboration with the Society of Petroleum Engineers (SPE), sets the international standard for the exchange of best-practice and operational excellence in the world of energy, with all technical abstract submissions put through a rigorous evaluation process by the Technical Programme Committee.

Sessions cover upstream, midstream and downstream sectors, including specialised programmes such as offshore and marine.
Alongside the conference will be the landmark ADIPEC exhibition areas, underpinning the event’s status as a premier showcase for suppliers and customers across the oil and gas industry. For 2018, ADIPEC is expected to attract more than 2,200 exhibiting companies, including 38 NOCs and IOCs, and 30 international country pavilions.
Held under the patronage of His Highness Sheikh Khalifa Bin Zayed Al Nahyan, President of the UAE, hosted by the Abu Dhabi National Oil Company (ADNOC) and supported by the UAE Ministry of Energy, the Abu Dhabi Chamber, and the Abu Dhabi Tourism and Culture Authority, ADIPEC will take place from 12 to 15 November, at the Abu Dhabi National Exhibition Centre (ADNEC).