Notable experts from the oil and gas industry gathered during the second Mashreq Energy Club, held in Abu Dhabi on 6 February 2019, to discuss the transformation brought about by disruptive technologies such as 3D printing, artificial intelligence (AI) and blockchain.
The delegates and attendees highlighted ‘organisational inertia’ as one of the biggest factors hindering industry-wide adoption of the latest technology.
“Technology is just the tip of the iceberg,” said one expert. “What matters is the culture, organisation and the people.”
Read the complete feature, published in the April edition of MEED Business Review, here
Delegates called for better collaboration between companies and also with education providers. Higher levels of training, along with the hiring of younger staff, could reduce resistance to innovation and help companies identify opportunities presented by technology.
- Technology such as AI, blockchain and 3D printing are increasingly seen as investment and development areas in the oil and gas sector
- An underlying issue is a non-committal attitude towards technology. It is difficult to replace existing processes with newer practices simply because cultural attitudes are tough to change
- Deployment of technology should be driven top-down, to establish long-term commitment. Further, engineers and other operational-level workers should be involved and trained in relevant technologies
- Increased collaboration among industry stakeholders is one way to bring about change in the industry. Organisations can learn from each other through cross-industry partnerships and even jointly fund research and drive investments in technology
- Preparing for future trends and exploiting potential technology can be achieved through partnerships with academia and startups
- Young minds in the industry can help bring fresh perspective to the table. The younger generation is more open to the change brought about by technology and is eager to innovate
- Creation of posts such as ‘chief digital officer’ and the establishment of innovation departments within organisations are positive indicators of change
- The female workforce is increasingly regarded as equally competent in the traditionally male-dominated oil and gas industry
To learn more about the MEED Mashreq Energy Partnership, log on to MEED Mashreq Hub