Saudi Aramco encouraged representatives of the oil and gas industries to press ahead with implementing Fourth Industrial Revolution (4.0) technologies, during its participation at the 2019 Abu Dhabi International Petroleum Exhibition and Conference (ADIPEC).
Speaking at a panel titled “How is the industry embracing digital innovation?” on the industry’s digital transformation and the latest trends in technology, Aramco’s Senior VP of Operations and Business Services Muhammad al-Saggaf, discussed the company’s research and development (R&D).
He also addressed the deployment of the TeraPOWERS technology, which models reservoir physics from the original generation to final production. This technology enables Aramco to model the physics of its reservoirs to prioritize prospects, reduce exploration risks and costs, and manage its reservoirs.
Senior Vice President of Downstream Abdulaziz al-Judaimi will participate on Wednesday in panel “Downstream 4.0: Refining and Petrochemicals, Growth Through Innovation and Digitization,” on new strategies around digital, people and business partnership.
He is expected to shed light o the opportunities presented by 4th Industrial Revolution technologies and reaffirm Aramco’s commitment to continue developing, harnessing, and fully utilizing the emergent technologies for value creation.
World Economic Forum (WEF) recognized Aramco’s efforts in the energy sector’s 4.0 transformation in September 2018 when the company’s Othmaniyah Gas Plant was named one of the Fourth Industrial Revolution 4.0 “lighthouses”.
Aramco is the first energy company globally to be included in this group of 16 manufacturing sites selected from an initial list of 1,000 manufacturers from around the world.