Dubai, UAE (PRWEB) September 27, 2007
Dubai will host on November 19th the Oil & Gas ICT (OT Summit) - Middle East.
Dependence of oil and gas industries on communication and information technology has become an essential tool for production in our recent time, commented Khalid Eid, Managing Director of the Dubai - based World Development Forum (WDF), the organizer of the three-day event.
"Oil and gas are the backbone of modern era. They are the core of economics for most countries of the region. Hence each step towards the development of the Oil and Gas industry will significantly contribute to economic development and evolution," said Mr Eid.
Citing statistics of the International Energy Agency, he said that long-term economic growth expectations for year 2005 to 2030 range between 2.8 per cent and 3.8 per cent per annum. It is anticipated that economics of developed countries will witness a growth rate of 5.8 per cent and 3.9 per cent annually from the year 2015 until 2030, he said.
Meanwhile, growth rate for Organization for Economic Co-operation and Development (OECD) will remain 2.9 per cent until 2015, he said. Recent expectations indicate that world energy demand will be increased by 5.1 per cent per annum by the year 2030 compared to earlier anticipations.
"Linking various operations in different locations, is one of the major benefit of information technology. For example an offshore engineer in gulf water can view and respond to downhole data in real time from a well in Azerbaijan significantly enhances ongoing operations," said Mr Eid.
He said "In fact information technology is no more a mere assistant tool for developing economies but rather a leading factor in this domain. Continuous evolution in ICT has led to the development of what is known as 'Digital Oil Field'.
The basic infrastructure of these fields depends on communication and information technology, he said, adding that this concept has proved to be efficient and cost-effective in various oil sectors.
Industry experts always describe the Oil & Gas as highly dependent on sophisticated (ICT) to achieve their business goals. Whether it is the complex analysis of seismic data below a salt dome, or global integration of procurement of goods and services, ICT has become key to business success, said Mr Eid. "While other industries have, to an extent, a degree of choice about where they are located, enabling them to take advantage of favorable factors including proven ICT infrastructure; the oil and gas industry is largely confined to sites where raw materials are available and which are often remote."
This emphasises that communication and information technology are the core elements for building up a modern infrastructure for oil and gas sector, he added.
He stressed that the need for securing technical & human expertise in various and remote areas has prompted intentional companies to deploy the concept of the 'Virtual Organisation'.
Mr Eid explained that this concept facilitates mobility of
data and information from the field in real time, using advanced ICT to be processed in data centers and translated into business intelligence feeding decision support systems which offer the decision maker the "optimal solution" based on the science of "operation research," ICT made this a reality today.
He clarified that ICT support not only Exploration & Production but also but also support other functions like production monitoring, projects management, transportation, logistic support, marketing in addition to the business communications like voice, email, internet and intranet.
Mr Eid stressed that there is a direct link between technology and oil and gas industry as both seek efficient and cost-effective operation. This interlinked relationship increases the role communication and information technology departments have to shoulder, he urged.
Elaborating on the summit, he said the event aims to shed light on integrated relationship between ICT and Oil industry, discuss challenges facing this industry in the Arab region and . To establish a strategic platform for the IT executives in the Oil, Gas and Industrial sector concerned about emerging trends, technology and opportunities brought by ICT.
OT Summit- Middle East is the only exclusive event -By Invitation Only- dedicated to the Executives of the major Oil & Gas companies in Middle East, and the leading ICT Vendors & Providers to discuss how technology can turn strategic vision into reality.
He mentioned that most of the industry giants already confirmed their participation "ARAMCO, SABIK, ADNOC, Kuwait Oil Company, Qatar Petroluem, Dana Gas are amongst the leading participating companies from GCC and Arab countries" he said.
It is worth noting that the OT summit will be co-located with the Government Technology Summit (GT Summit), which brings together the elite of ICT in Arab Governments to discuss how Technology can help Arab Governments to improve services offered to Citizens, Business and Government.
NOTE: Participating Oil & Gas Companies from Saudi, Kuwait, Qatar, Oman, Bahrain, Egypt, Libya & Jordan in addition to UAE.