ADIPEC 2018: Panelists Discuss Fourth Industrial Revolution’s Impact On Oil, Gas Industry
Panelist discussed what they called “Oil and Gas 4.0,” which will allow oil and gas companies to access undeveloped reservoirs, tap into natural gas and further capitalize on unconventional resources.
“This era, known as the Fourth Industrial Age, is creating a paradigm shift in global growth and driving demand for our products. Our industry must step up to enable this massive step change in global development,” said Sultan Ahmed Al Jaber, CEO of the Abu Dhabi National Oil Co. (ADNOC). “In short, this mission can be given a simple name: Oil and Gas 4.0.”
The push toward incorporating digital tools to improve efficiencies, lower costs and expand production has triggered the Oil and Gas 4.0 era. The evolution is linked to the broader Industry 4.0, driven largely by technology of the Fourth Industrial Revolution, namely artificial intelligence, big data, and the Internet of Things.