Economy

The International Conference on Petroleum Technology 2022 in Saudi Arabia stresses: The importance of the future of energy..

Saudi Aramco executives emphasized the role of the carbon-based economy and digital transformation in the global energy transition, at the conclusion of the International Petroleum Technology Conference (IPTC)

in Riyadh yesterday, Wednesday.

He pointed out Saudi Aramco Chief Technical Officer Ahmed Al-Khuwaiter stressed the need for stakeholders to move from the level of discussion to the level of consensus as it accelerates global efforts to decarbonize, and highlighted the benefits of the economy model based on carbon cycling, stressing the importance of transparency in this regard. He said: “The carbon cycling economy is the way we are transitioning from today to a low-carbon future in a technology-neutral way that unleashes to the strength of the current energy industry. It is the most economical thing to do, and not only because it is the fastest, there is a huge potential to reduce emissions from the oil and gas industry globally, not only through renewables but also through good gas management and petroleum engineering, we need to recognize good performance and motivate Transparency because it is beneficial for both our industry and society in general.” The need for a stable, practical and inclusive energy transition on the ground. He said, “We all know that as the world transitions to a low carbon economy, there will be a fundamental change in our energy infrastructure, energy systems and how energy is used around the world. A one-size-fits-all approach to the energy transition will not work, as developing countries will need to ensure energy at an affordable cost, and an inclusive transition will ensure that all parties engage together.”

A deputy promised Nabeel Al-Naim, Head of Digital Transformation at Saudi Aramco, said that the development of the digital ecosystem in the Kingdom, including cloud computing, will help increase innovation in the energy sector while supporting the sustainability and decarbonization program, and said: “Digital transformation has changed our lives and will continue to bring change and added value. For our communities, and at Saudi Aramco, part of our digital transformation program is to create a world-class “digital ecosystem” to support our core business and future expansion. Building this ecosystem is not easy, it requires years of hard work with our partners, and we are confident that This will lay the foundations for Another Silicon Valley for the energy sector.”

Abdul Hameed Al-Rasheed, Vice President of Drilling and Well Maintenance at Saudi Aramco, highlighted the important role The role that Saudi Aramco has played in ensuring reliable energy supplies to the world in recent years, underscoring the vital function that the company’s resilient infrastructure plays in overcoming adversity, particularly during a pandemic.