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Oil, gas crucial to Industry 4.0, says Adnoc CEO

ABU DHABI, May 25, 2019

Abu Dhabi National Oil Company (Adnoc) is absorbing, embedding and applying cutting edge technology at every step of the production process from oil platforms to trading platforms, said its top official.
 
''In short, as we enter a new age of technology, the world remains reliant on a 160-year-old industry, whose core mission is to responsibly and efficiently stay ahead of tomorrow’s energy demand. At Adnoc, we call this mission "Oil and Gas 4.0," remarked Adnoc CEO Dr Sultan Al Jaber.
 
"Oil and Gas 4.0" means rethinking how our industry adopts and applies technology, connects with non-traditional partners, shows environmental leadership and most importantly attracts and retains talent,'' stated Dr Al Jaber in an article published by ''The Telegraph.'.
 
In the article, he affirmed that oil and gas will remain essential to the global energy mix and the basis for a wide range of modern consumer products.
 
''As we enter the Fourth Industrial Age, it is clear that this is an era defined by a transformation, not just of technology, but of opportunity. Never before in human history are so many people being raised out of poverty in such a short amount of time," he noted. 
 
"For the first time in history, half the world’s population is now middle class and by 2030 their number will swell to 5.6 billion– two-thirds of the global population. While just over half of humanity lives in a city today, that proportion will climb to almost 70 per cent in the next thirty years," he wrote in the Telegraph article. 
 
That’s 2.5 billion people moving to urban areas, mostly in Asia and Africa. These migrations from non-consumer to consumer and from rural to urban, will drive a growing demand for energy that no single source can meet. Oil and Gas will remain essential to the global energy mix and the basis for a wide range of modern consumer products, he added.
 
Dr Al Jaber said: "In short, as we enter a new age of technology, the world remains reliant on a 160-year-old industry, whose core mission is to responsibly and efficiently stay ahead of tomorrow’s energy demand. At Adnoc, we call this mission "Oil and Gas 4.0." 
 
"Oil and Gas 4.0" means rethinking how our industry adopts and applies technology, connects with non-traditional partners, shows environmental leadership and most importantly attracts and retains talent," he added.
 
Earlier this year, we published our Workforce of The Future survey, which looked at the views of young STEM (Science, Technology, Engineering and Math) talent around the world regarding future careers.
 
The key finding revealed that the more STEM youth associate a workplace with technological innovation, the more attractive that workplace is. In many countries, oil and gas lacks that association, but this is a problem of perception, not reality, stated the Adnoc chief in the article. 
 
Since the first oil well was drilled in 1859, the oil and gas industry has been at the forefront of innovation. From deep sea drilling to a depth of more than 30,000 ft, to the development of complex polymers that create lightweight composites for more fuel efficient vehicles, the oil and gas industry has been an inventive force of transformational discovery, he stated. 
 
"In 2019, we are still making breakthroughs, but we are failing to tell our own innovation story in an exciting and compelling way – and that should be a priority because the biggest risk to our industry is not competition from other energy sources, but competition for talent," said Dr Al Jaber.
 
The fact is, the modern oil company is absorbing, embedding and applying cutting edge technology at every step of the production process. At Adnoc, for example, we fully embrace technology from oil platforms to trading platforms," he added.-TradeArabia News Service



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