It is the fundamental truth of our time that technology is evolving at an accelerating pace, transforming the way companies operate and make decisions every day. The global oil and gas industry is no exception, and it must decide whether to shape the future or risk being shaped by it.
For decades, technological innovation has helped to offset the impact of depletion by introducing smarter and more efficient ways of discovery and production. Thanks to technological progress, the industry has been able to open up ever-more challenging frontiers in the quest for new hydrocarbon resources, develop increasingly deep and complex reservoirs, and boost efficiencies in their recovery.
As traditional forms of hydrocarbons are becoming harder to find and extract, technological innovation will be integral to pushing back the much-debated arrival of peak oil. This also holds true for the Middle East, a region long known for the existence of easily accessible oil and gas reservoirs from such giant fields as Ghawar in Saudi Arabia and Burgan in Kuwait that are now maturing, while new ones are more challenging to develop.
It therefore doesn’t come as a surprise that improving recovery and extending the life of existing assets are emerging as dominating themes in the oil industry. As the findings from a Lloyd’s Register Energy survey carried out among senior industry executives and academics in 17 countries shows, the majority of those polled plan to focus on further innovations in high-impact technologies such as automation, including remote and subsea operation.
Improving production and operational efficiency is one driver of innovation in the industry. Cost reductions, safety and environmental improvements are also major objectives of innovation, especially related to remote operations. The reason is clear. Safety isn’t just about loss prevention and minimising the cost arising from industry accidents and incidents; it is the industry’s moral obligation to protect the environment and people.
As the industry pushes into deeper waters and more hostile environments, and refines existing and develops new technologies, the rising cost of doing so could hamper progress on the innovation front. Finding practical ways to collaborate more closely with other organisations to share development costs for new technologies will therefore be of great significance for the industry at large. International oil companies, national oil companies, service companies, academia and government will all have to play a role in this by coming closer together.
At a time when oil prices are declining and the industry’s operational costs remain firmly on an upward trajectory, concerns are that innovation and research and development will take a back seat as they did in the low-oil price era of the 1980s-90s. However, while this may have been the case in the past, a look at today’s mature oil industry shows technology and innovation are business enablers that – tight times or not – need to be pursued in the sector’s own interest.
We are still all too aware of the dramatic consequences of the 1980s-90s oil price slump, which led to investment cuts across the industry, in turn slowing innovation and leading to an outflow of talent. The industry never fully recovered from being regarded as more unstable and less desirable to work in than others, leaving scores of young people to choose careers in areas such as IT and finance rather than oil and gas.
Today, the single biggest challenge facing technology innovation in the industry is the knowledge shortage resulting from a generational gap that can be sourced back to the 1980s, and that’s set to worsen as an entire generation of experienced engineers reaches retirement age. The question being asked is who will capture this vast knowledge and expertise that is set to exit from the industry amid the Great Crew Change?
There isn’t a simple answer. Collaboration between all energy stakeholders – industry, academia and government – will have to be expanded and new ways of working will need to be explored. The oil and gas industry will have to broaden its search for talent across geographies, backgrounds and genders. The sector also needs to look to adjacent industries, such as nuclear. And it will need to attract talent from more diverse backgrounds ranging from geology to mathematics, IT and analytics in order to drive innovation in future technologies.
Just as the pace of technological advancements is accelerating, so will the need to understand the long-term implications of technology adoption and any potential risks, along with how to pass on the knowledge that’s on the way out before it’s gone forever. That’s another fundamental truth.
John Wishart is the president of the Lloyd’s Register Energy division of Lloyd’s Register
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Indoor cricket in a nutshell
Indoor Cricket World Cup - Sep 16-20, Insportz, Dubai
16 Indoor cricket matches are 16 overs per side
8 There are eight players per team
9 There have been nine Indoor Cricket World Cups for men. Australia have won every one.
5 Five runs are deducted from the score when a wickets falls
4 Batsmen bat in pairs, facing four overs per partnership
Scoring In indoor cricket, runs are scored by way of both physical and bonus runs. Physical runs are scored by both batsmen completing a run from one crease to the other. Bonus runs are scored when the ball hits a net in different zones, but only when at least one physical run is score.
Zones
A Front net, behind the striker and wicketkeeper: 0 runs
B Side nets, between the striker and halfway down the pitch: 1 run
C Side nets between halfway and the bowlers end: 2 runs
D Back net: 4 runs on the bounce, 6 runs on the full
DUBAI%20BLING%3A%20EPISODE%201
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Company%20Profile
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Blackpink World Tour [Born Pink] In Cinemas
Starring: Rose, Jisoo, Jennie, Lisa
Directors: Min Geun, Oh Yoon-Dong
Rating: 3/5
UJDA CHAMAN
Produced: Panorama Studios International
Directed: Abhishek Pathak
Cast: Sunny Singh, Maanvi Gagroo, Grusha Kapoor, Saurabh Shukla
Rating: 3.5 /5 stars
BEETLEJUICE BEETLEJUICE
Starring: Winona Ryder, Michael Keaton, Jenny Ortega
Director: Tim Burton
Rating: 3/5
Confirmed%20bouts%20(more%20to%20be%20added)
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If you go...
Fly from Dubai or Abu Dhabi to Chiang Mai in Thailand, via Bangkok, before taking a five-hour bus ride across the Laos border to Huay Xai. The land border crossing at Huay Xai is a well-trodden route, meaning entry is swift, though travellers should be aware of visa requirements for both countries.
Flights from Dubai start at Dh4,000 return with Emirates, while Etihad flights from Abu Dhabi start at Dh2,000. Local buses can be booked in Chiang Mai from around Dh50
Quick%20facts
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Where to donate in the UAE
The Emirates Charity Portal
You can donate to several registered charities through a “donation catalogue”. The use of the donation is quite specific, such as buying a fan for a poor family in Niger for Dh130.
The General Authority of Islamic Affairs & Endowments
The site has an e-donation service accepting debit card, credit card or e-Dirham, an electronic payment tool developed by the Ministry of Finance and First Abu Dhabi Bank.
Al Noor Special Needs Centre
You can donate online or order Smiles n’ Stuff products handcrafted by Al Noor students. The centre publishes a wish list of extras needed, starting at Dh500.
Beit Al Khair Society
Beit Al Khair Society has the motto “From – and to – the UAE,” with donations going towards the neediest in the country. Its website has a list of physical donation sites, but people can also contribute money by SMS, bank transfer and through the hotline 800-22554.
Dar Al Ber Society
Dar Al Ber Society, which has charity projects in 39 countries, accept cash payments, money transfers or SMS donations. Its donation hotline is 800-79.
Dubai Cares
Dubai Cares provides several options for individuals and companies to donate, including online, through banks, at retail outlets, via phone and by purchasing Dubai Cares branded merchandise. It is currently running a campaign called Bookings 2030, which allows people to help change the future of six underprivileged children and young people.
Emirates Airline Foundation
Those who travel on Emirates have undoubtedly seen the little donation envelopes in the seat pockets. But the foundation also accepts donations online and in the form of Skywards Miles. Donated miles are used to sponsor travel for doctors, surgeons, engineers and other professionals volunteering on humanitarian missions around the world.
Emirates Red Crescent
On the Emirates Red Crescent website you can choose between 35 different purposes for your donation, such as providing food for fasters, supporting debtors and contributing to a refugee women fund. It also has a list of bank accounts for each donation type.
Gulf for Good
Gulf for Good raises funds for partner charity projects through challenges, like climbing Kilimanjaro and cycling through Thailand. This year’s projects are in partnership with Street Child Nepal, Larchfield Kids, the Foundation for African Empowerment and SOS Children's Villages. Since 2001, the organisation has raised more than $3.5 million (Dh12.8m) in support of over 50 children’s charities.
Noor Dubai Foundation
Sheikh Mohammed bin Rashid Al Maktoum launched the Noor Dubai Foundation a decade ago with the aim of eliminating all forms of preventable blindness globally. You can donate Dh50 to support mobile eye camps by texting the word “Noor” to 4565 (Etisalat) or 4849 (du).
Juliet, Naked
Dir: Jesse Peretz
Starring: Chris O'Dowd, Rose Byrne, Ethan Hawke
Two stars
Our legal consultant
Name: Dr Hassan Mohsen Elhais
Position: legal consultant with Al Rowaad Advocates and Legal Consultants.
Victims%20of%20the%202018%20Parkland%20school%20shooting
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Company%C2%A0profile
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In-demand jobs and monthly salaries
- Technology expert in robotics and automation: Dh20,000 to Dh40,000
- Energy engineer: Dh25,000 to Dh30,000
- Production engineer: Dh30,000 to Dh40,000
- Data-driven supply chain management professional: Dh30,000 to Dh50,000
- HR leader: Dh40,000 to Dh60,000
- Engineering leader: Dh30,000 to Dh55,000
- Project manager: Dh55,000 to Dh65,000
- Senior reservoir engineer: Dh40,000 to Dh55,000
- Senior drilling engineer: Dh38,000 to Dh46,000
- Senior process engineer: Dh28,000 to Dh38,000
- Senior maintenance engineer: Dh22,000 to Dh34,000
- Field engineer: Dh6,500 to Dh7,500
- Field supervisor: Dh9,000 to Dh12,000
- Field operator: Dh5,000 to Dh7,000
COMPANY%20PROFILE%20
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Score
New Zealand 266 for 9 in 50 overs
Pakistan 219 all out in 47.2 overs
New Zealand win by 47 runs
New Zealand lead three-match ODI series 1-0
Next match: Zayed Cricket Stadium, Abu Dhabi, Friday
The specs
Engine: 2-litre or 3-litre 4Motion all-wheel-drive Power: 250Nm (2-litre); 340 (3-litre) Torque: 450Nm Transmission: 8-speed automatic Starting price: From Dh212,000 On sale: Now
What is the FNC?
The Federal National Council is one of five federal authorities established by the UAE constitution. It held its first session on December 2, 1972, a year to the day after Federation.
It has 40 members, eight of whom are women. The members represent the UAE population through each of the emirates. Abu Dhabi and Dubai have eight members each, Sharjah and Ras al Khaimah six, and Ajman, Fujairah and Umm Al Quwain have four.
They bring Emirati issues to the council for debate and put those concerns to ministers summoned for questioning.
The FNC’s main functions include passing, amending or rejecting federal draft laws, discussing international treaties and agreements, and offering recommendations on general subjects raised during sessions.
Federal draft laws must first pass through the FNC for recommendations when members can amend the laws to suit the needs of citizens. The draft laws are then forwarded to the Cabinet for consideration and approval.
Since 2006, half of the members have been elected by UAE citizens to serve four-year terms and the other half are appointed by the Ruler’s Courts of the seven emirates.
In the 2015 elections, 78 of the 252 candidates were women. Women also represented 48 per cent of all voters and 67 per cent of the voters were under the age of 40.
Company%20profile
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COMPANY%20PROFILE
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Scores
Rajasthan Royals 160-8 (20 ov)
Kolkata Knight Riders 163-3 (18.5 ov)
Company Profile
Name: Thndr
Started: 2019
Co-founders: Ahmad Hammouda and Seif Amr
Sector: FinTech
Headquarters: Egypt
UAE base: Hub71, Abu Dhabi
Current number of staff: More than 150
Funds raised: $22 million
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%E2%80%98FSO%20Safer%E2%80%99%20-%20a%20ticking%20bomb
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WHAT IS A BLACK HOLE?
1. Black holes are objects whose gravity is so strong not even light can escape their pull
2. They can be created when massive stars collapse under their own weight
3. Large black holes can also be formed when smaller ones collide and merge
4. The biggest black holes lurk at the centre of many galaxies, including our own
5. Astronomers believe that when the universe was very young, black holes affected how galaxies formed