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MENA Downstream Digital Transformation
Digital Transformation has become a critical part of downstream sector of the oil and gas industry due to the recent market dynamics. In the MENA region, the industry has experienced a rapid rise in digital transformation which has disrupted the traditional ways of operating in a sector that remains conservative in many aspects. In fact, the industry is adopting new technologies, such as advanced computing and analytics, drones, IIoT, AI, ML, digital twin, and robotics, to keep up with the market changes and improve efficiency and productivity.
According to the report released by ABI Research, spending on IoT devices and applications is also expected to reach over $5 billion whilst spending on data analytics will approach $2 billion. Spending on cyber security services within the sector will also increase by 8.1% between 2021 and 2030 to reach $5640 million per annum.
However, digital transformation in the downstream sector, still faces some key challenge in the digitalization process, including data silos, finding the right solutions and systems, especially for legacy infrastructure, complexity and insufficient digital training and lack of skilled talent.
In line with this, MENA Downstream Digital Transformation Conference will take place in 5th– 6th September 2022 in Abu Dhabi, United Arab Emirates. This event aims to create an interactive technical forum where senior downstream digital experts can discuss the opportunities of digitalization and how to facilitate a smooth digital journey for the industry using the latest trends and innovative technologies driving the future of the downstream sector through digital transformation.