OPEC’s 7th International Seminar, with the theme ‘Petroleum – Cooperation for a Sustainable Future’, came about in Vienna on 21 and 22 June 2018. During the Seminar the main focus was on various international elements that may have an effect on vitality manufacturing and demand within the coming a long time, together with sustainability, cooperation, transition, know-how, investments and the worldwide financial system.

The OPEC Seminar is thought to be one of many premier occasions on the planet vitality calendar and brings collectively Ministers from OPEC member nations and different oil producing nations, heads of worldwide organizations, Chief Executives of nationwide and worldwide oil firms, trade leaders, lecturers, analysts and the media. The almost 900 individuals who attended this yr’s gathering included over 100 Ministers. The Seminar was opened by HE Suhail Mohamed Al Mazrouei, the United Arab Emirates’ Minister of Energy & Industry, and President of the OPEC Conference.

The two-day seminar program included a complete of 5 formal periods plus three particular periods. The afternoon session on day one was devoted to “Technology Breakthroughs”. The panelists had been Daniel Yergin, Vice-Chairman of IHS Markit, Lorenzo Simonelli, CEO of Baker Hughes GE, Pacelli Zitha, Professor at Delft University of Technology, Ihan Ismaeel Al-Saade, Director General of Basrah Oil Company, Al Cook, Executive Vice President of Equinor (previously: Statoil) and Duco Drenth, Director New Technologies of Dietsmann. The session was an event for revolutionary enthusiastic about a number of the most promising applied sciences within the trade. The transformative position that know-how has performed on the trade was reviewed, with the dialogue then turning to the tempo at which new applied sciences are being utilized, significantly by National Oil Companies. Carbon Capture & Storage (CCS) was mentioned, as was the measures that may be taken to speed up carbon utilization. Professor Zitha of the Delft University of Technology launched the idea of the ‘e-refinery’ and the truth that CO2 ought to be seen as a base materials to be (re-)used within the chemical trade.

Duco Drenth, Dietsmann’s Director New Technologies, emphasised the significance of the alternatives for and progress of digitalization within the trade, with ideas like digital twins, block chain, synthetic intelligence, predictive upkeep, augmented actuality and digital actuality. He highlighted the truth that, within the subsequent 5 years, the usage of industrial robotic functions within the petroleum trade is predicted to extend with the introduction of drones, crawlers and autonomous working machines. And he defined how ‘Digitalization’ and ‘Robotics’ are additionally related drivers of additional enhancements not solely to Safety and Health requirements but in addition to up-times. This was a significant subject of debate within the session, with Duco Drenth stressing the necessity for Information Technology engineers quite than subsurface or manufacturing engineers.

The significance of collaboration in technological innovation was highlighted all through the Seminar, with audio system calling for larger collaborative approaches throughout the complete provide chain. This significance was echoed by HE Mohammad Sanusi Barkindo, OPEC Secretary General. In his speech closing the 7th International Seminar he careworn that the long run success of the trade does, certainly, relaxation within the ‘three Cs”: ‘cooperation; cooperation and cooperation’.

See: PDF File and: https://www.opecseminar.org.

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