CEO Panel at OPAL’s Second Oil and Gas Conference Discusses Impact of Digitization and Technology on the Industry
 
Dec 09, 2018
Category:

Muscat, 9 December 2018: The second OPAL Oil and Gas Conference saw a number of industry experts, analysts and exhibitors come together over three days to showcase their innovations and discuss the challenges, opportunities and rising trends pertaining to the Oil and Gas Industry. As part of the closing ceremony, the conference held a CEO Panel to discuss the strategies that can help organizations adapt to the technological and investment trends reshaping the industry.

Moderated by Mr. Sean Evers, Managing Partner of Gulf Intelligence, the panel consisted of His Excellency Salim bin Nasser bin Said Al Aufi, Undersecretary, Ministry of Oil and Gas, Raoul Restucci, managing director, PDO; Steve Kelly, president and general manager, OXY Oman; John Malcolm, executive managing director; OOCEP, Lorenzo Casati, managing director, Eni Oman BV and Walter Simpson; managing director, CC Energy Development S.A.L.

Reviewing the volatile nature of the industry and several geopolitical implications on oil prices, His Excellency stated that despite the turbulence, Oman has recovered on its budget deficit by 36%. He also stressed on the importance of building resilience in organizations and how businesses should strengthen themselves enough to not be severely affected by the fluctuating oil prices and lose out on opportunities for growth.

One of the main highlights of the conference and the panel was the impact of technological advancements and digitization in the oil and gas industry, with a need for all levels of management to re-educate themselves with the technological wave that is taking over the industry. With companies like PDO currently working on 380 digitalization projects, the challenge for the oil and gas sector is to re-skill the leadership to understand all the data collected in order to learn and grow from it.

According to the World Economic Forum, $1.6 trillion of value could be unlocked if digital transformation is adopted more efficiently in the industry. Speaking further on this, Steve Kelly of OXY Oman highlighted a study commissioned by them and OPAL, that will analyze the data collected to understand views and opinions of what is needed by the industry in terms of digital competencies.

The panel’s closing remarks included considerations on what the next year can mean for the industry. His Excellency remarked that while the fluctuating oil prices could bring another tough year in terms of employment opportunities, this gives organizations a better opportunity to increase their resilience and strengthen their business core. Ending on a high note, the takeaway of the panel was to concentrate on the business vision and activities despite the uncertainty in oil prices and continue to plan to grow and succeed.

--END--

Melissa A. Daleja │ Marketing Communications Manager
Tel: +968 24660122 │ Fax: +968 24660125 │ Mobile: +968 99471704
Email: melissa.daleja@omanexpo.com

- ASIA TODAY News Global Distribution http://www.AsiaToday.com