Over 30 of the world’s leading oil, gas, and petrochemical Chief Technology Officers (CTOs) gathered virtually to discuss the role of technology and innovation in shaping the future of the oil and gas industry as it responds to disruptive forces and navigates the post-COVID recovery.
The CTOs were convened by the Abu Dhabi National Oil Company (ADNOC) in what was the company’s first CTO Roundtable which is set to be held annually. This year’s edition is taking place as part of ADNOC’s innovation week.
The exclusive, invitation-only event, held under the Chatham House Rule, was opened by Dr. Sultan bin Ahmed Al Jaber, Cabinet Member and Minister of Industry and Advanced Technology, Group CEO of ADNOC, who welcomed the CTOs and highlighted the importance of the roundtable.
The forum provided a platform for the CTOs to exchange views and share insights on how innovation and technology can help address key issues facing the industry, in a post-Covid economy. Topics discussed include digitalization, decarbonisation, and the potential of future fuels.
At the end of the roundtable, the CTOs agreed on a white paper on innovating in response to the massive disruptions and fast-moving trends within the industry.
Dr. Alan Nelson, ADNOC CTO, said: “We are delighted to have successfully hosted ADNOC’s first CTO Roundtable. The event was timely and provided a platform for technology leaders from the oil and gas industry to share insights and perspectives on how we can expand cooperation and move the technology needle to address the unprecedented challenges we face. I look forward to advancing the conversation on how our industry can leverage innovation and technology to unlock new opportunities and remain competivite in the new energy landscape, at the next edition of the roundtable.”
The roundtable was moderated by Professor Nicholas Webb, a bestselling author and inventor with over 40 patents by the U.S. Patent and Trademark Office.
Taking place virtually from February 21-25, the ADNOC Innovation Week is bringing together thousands of its employees to engage on its technology roadmap and innovation strategy aimed at enabling the company’s vision to become a technology leader in the oil and gas industry.
Over the past four years, ADNOC has made strategic investments and launched several initiatives in technology and innovation as part of its digital transformation to enhance efficiencies, optimize performance and unlock greater value from its assets and resources. These initiatives include the Panorama Digital Command Center and Thamama Subsurface Collaboration Center which have each generated over $1 billion (AED3.67 billion) in business value since inception.
ADNOC is also applying AI-enabled technologies for value chain optimization, predictive maintenance, and blockchain-based hydrocarbon accounting.
