Minister of Petroleum and Mineral Resources Tarek El Molla confirmed that digital transformation is not only about the use of new technologies to improve operations carried out by the oil and gas industry, but it is a much deeper necessity that requires the basic integration of digital technologies in all areas of business. The minister remarks came during his opening speech at the Future of Digital Evolution in Oil & Gas Industry event organized by the Egypt Oil & Gas (EOG).
The petroleum sector is always keen to support integration among decision-makers to create a consensus that is reflected in managing the work as a whole and supporting all activities in all stages of the industry, El Molla highlighted during the event which took place at Dusit Thani LakeView Cairo Hotel on January 15th.
El Molla stated that since the beginning of the development and modernization journey in 2016, a program has been dedicated to digital transformation, and this program has developed a lot, as the first phase of it focused on the use of data and its flow between the sector entities through the ERP system, which increased the smooth flow of information that supports decision-making. It provides the required basis for a unified work network, and after the successes achieved in the first phase, a more comprehensive strategy was developed to take better advantage of digital transformation. He highlighted the implementation of more than 70 digital projects that represent success stories of digital transformation in partnership with the main partners of the petroleum sector, including international companies operating in the petroleum sector, experts and specialists.
The minister expressed his confidence in the ability of the Egyptian oil and gas sector to continue the journey of digital transformation in order to achieve sustainability and preserve the main principles of the sector, which are safety, innovation, transparency and efficiency, and to achieve added value from the data collected from the sector, which serves the continuation of the achievements in the ongoing work journey.
Mohamed Fouad, Founder and CEO of EOG lauded the Ministry’s achievements in implementing the sector’s digital strategy, indicating that “Our leader within our sector through the Modernization program created room for everyone to integrate, not to compete. And I think this is what digital transformation needs.”
For his part, David Chi, Vice-President of Apache Corporation and Country Manager for Apache in Egypt as well as EOG Committee Chairman, highlighted the importance of continuing dialogue and cooperation between all parties concerned with the oil and gas industry in Egypt to plan the next steps and overcome difficulties. He highlighted the importance of digital transformation, especially in light of the challenges the world is currently witnessing, where it has become necessary rather than optional. In his statement, he emphasized the role of modern technologies in supporting decision-making, operational efficiency and promoting sustainability, in addition to providing a safe work environment.
The event featured a Strategic Roundtable that brought together the oil and gas sector’s distinguished minds to discuss one of the most important aspects of the industry’s future, digital transformation.
Moreover, the event included a technical session that featured several presentations on new project developments as well as industry best practices.