Abu Dhabi, 19th March 2014 (WAM) -- The importance of open innovation, technology and collaboration in shaping the future of energy was underscored today by global leader Shell in an address to students at the Petroleum Institute (PI) Abu Dhabi.
Speaking to the PI students, Matthias Bichsel, Shell?s Global Director for Projects & Technology said: "Innovation and technology play a more important role than ever today to address the sizeable energy challenges that lie ahead across the globe. At Shell we see universities like the Petroleum institute as an innovation and talent partner, contributing a vital role towards a sustainable energy future for all."In recent years, Shell has spent more than $1 billion in R&D annually, supported by a global technical and engineering community of 43,000 people which has led to significant advancements in gas exploration, Enhanced Oil Recovery (EOR), Liquefied Natural Gas (LNG) and seismic technology, facilitating access to both conventional and unconventional energy sources. "Nowadays, a lot of bytes goes into a barrel of oil," Bichsel said. Bichsel also highlighted the importance of collaborative partnerships between national oil companies and international oil companies that recognise the needs and know-how of every partner to solving energy challenges. "We?ve learned that innovation is often best stimulated by sharing ideas and know-how with others. Indeed, many ideas and know-how gain strength by spreading. And as they spread and gain strength, they can set off a chain reaction of more innovation. The best innovation is infectious in this way. We at Shell are big believers in this kind of open innovation, because it helps speed up developments that are likely to feature prominently in tomorrow?s energy system," said Bichsel. To this end, Shell is forging collaborations with companies outside the industry, undertaking joint research projects with government and academic institutions, and providing venture capital to early-stage technology companies. "As the UAE?s future energy leaders, the industry is counting on you to meet exciting and unprecedented energy challenges. Whether you pursue your career in one of the UAE national oil companies or in academia, we look forward to hearing about your contributions to the country?s energy sector and collaborations with international companies such as Shell on knowledge, technology and capabilities to make tomorrow a better place for us all," concluded Bichsel.Copyright Emirates News Agency (WAM) 2014.
