Dubai, UAE: The Middle East will be the world’s fastest growing market for the adoption of connected oilfield technology, as the region switches from dated analogue technology to the next big thing in oilfield services – the Industrial Internet of Things (IIoT), an industry expert said.
Abhay Bhargava, Director of Industrial Practice in the Middle East and Africa for market research firm Frost & Sullivan, said Middle East oil producers are expected to consider connected oilfield technology to not only to enhance oil recovery but to make finds economical to produce.
He said many Middle East oilfields that have abundantly produced for decades have now reached their peaks, prompting regional countries to adopt the digital transformation of oilfield services to economically produce from new offshore sites.
“Approximately 85 percent of Middle East oilfields are running on systems using analogue technology, but the race is on to make fields smarter and more connected,” said Bhargava. “Middle East countries are diving into the digitisation of services, so much so that the region is expected to be the fastest growing market in connected oilfield technology for at least the next six years.”
Bhargava is among 15 speakers at the inaugural SPS Automation Middle East 2018 conference and exhibition, which opens tomorrow (18 September) at Dubai’s Festival Arena in the UAE. He describes the connected oilfield as one that uses technology to historically manage production, personnel and safety, allowing for reduced costs, increased production, and improved efficiency in the oil and gas sector.
He said rather than relying on proprietary solutions, some Middle East oil companies are now already sharing data among all companies that work on their wells, adding: “As a result, they’re breaking down silos and fast becoming a prototype for optimising information management in a connected world.”
Bhargava’s presentation at SPS Automation Middle East 2018 will spotlight evolving IIoT trends in the global market and its implications for the Gulf Cooperation Council, a region which relies on its oil and gas sector as an indicator of general economic health.
Meanwhile, manufacturing is another sector that could benefit the most from IIoT and Industry 4.0, which are key focal points of SPS Automation Middle East 2018 as it gets set to host 21 of the world’s leading automation suppliers, and welcome hundreds of industry professionals from across the region.
“The Middle East has traditionally focused on conventional industries as well as trade for economic growth, however recently, there has been a considerable thrust to not just manufacture locally, but to also build facilities that can compete on a global scale so they can align themselves to exports,” concluded Bhargava.
“Additionally, there’s a strong trend of focusing on building future ready facilities, with an aim to protect the longevity of investments made. In this context, and considering how a large wave of industrialisation will be witnessed in the region in the short to medium term, we can expect IIoT to take off with a strong thrust in the near future.”
SPS Automation Middle East 2018 is the region’s only dedicated automation industry event, bringing together professionals of the Automation, IoT and Artificial Intelligence industries under one roof, and providing a dedicated platform for the latest innovations and solutions steering the region toward a smarter and high tech future.
The two-day summit is organised by Messe Frankfurt Middle East, and has signed on leading automation players as official Launch Partners including German companies BECKHOFF Automation, Bosch Rexroth, SICK, Pilz, and LAPP.
Japanese headquartered Mitsubishi Electric Factory Automation is also a Launch Partner while American powerhouse Rockwell Automation will be on-board as the show’s official Automation Sponsor. Other supporting partners include Gold Sponsor Procentec, Silver Sponsor Indu-Sol, and Bronze Sponsor Delta Electronics.
The SPS Automation Middle East Conference will feature a high-powered panel of speakers providing insights into how the policies and regulations governing automation affect the future of industries. It will also provide a detailed look at how companies are adapting new technologies to enhance production efficiency.
The exhibition meanwhile will provide a broad cross-section of the nuts and bolts of automated manufacturing and building infrastructure, from Drive Systems and Components, Software, IT, and Mechanical Infrastructure, to Interface Technology, Power Supplies, and Human-Machine Interface Devices.
More information is available at: www.spsautomationme.com.