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 has the power to unlock a potential $50bn 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%, with operating costs in upstream cut 3-5% and 1-3% 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). The event will take place between November 12 and 15 at the Abu Dhabi National Exhibition Centre.
Spanning both the exhibition halls and the strategic and technical conference programmes, the Digitalisation in Energy zone will include top technology providers and new start-ups serving the oil and gas sector. A purpose-built Innovation Theatre will provide tech companies with the opportunity to host expert talks and take digitalisation out of the technology silo and place it at the centre of a much bigger conversation.
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.
In total, the international technical and strategic conference spans 200 sessions, with 980 expert speakers and over 10,400 delegates. Alongside the conference will be the 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.
For more information, visit: www.adipec.com
19th June 2018