The 7th OT Summit to discuss Bridging the Gap between IT and Oil and Gas sector next week in Abu Dhabi
Leaders of the regional Oil, Gas & Industrial sectors will gather in Abu Dhabi next week at 7th OT Summit on 12 - 13 November to discuss how to bridge IT gap, ICT provides the infrastructure for economic development, helps create the knowledge society, contributes to innovation and creates value for the economy.
Organizations are demanded to improve operational efficiency and overall performance implementing tightly integrated solutions to empower their people to make the most of business opportunities. The key to converting data into actionable, valuable business insights lies today, more than ever, in innovative IT approaches - such as Cyber Security, Analytics , RT data delivery, smart field and collaborative work environment - to ensure that the right information is communicated to the right people
One of the most important trends that affect the Oil & Gas industry is cyber security, recent ABI Research study predicted that cyber attacks against oil and gas infrastructure will cost companies $1.87 billion by 2018
The keynote speaker at OT Summit this year is the International cyber security guru Mike McConnell, Vice Chairman of Booz Allen Hamilton and Former Director of National Intelligence, USA during the Bush and Obama Administrations says, "According to the CXO Report, a recent study released by (ISC)² and Booz Allen Hamilton, 39% of security executives predict a spending increase in security hardware and software." "When you combine the rapidly expanding digital landscape in the region with the increased adoption of mobile devices and the movement towards smart cities, there is a demand for organizations to put more funds towards mitigating the security risks associated with BYOD."
In a recent study Booz Allen Hamilton has identified the six key trends that are poised to greatly impact the oil and gas sector of tomorrow, and what every oil and gas executive needs to know today.
Top Six Energy Industry Trends for 2014:
1. The technology supply chain will increase the need for cyber risk management.
2. Cyber risk management will become more customized.
3. Future competitive advantages depend on technological innovation. Until recently,
4. Striking the right balance between strong cyber risk management and regulation will become more challenging.
5. An aging workforce is creating unique risk management, infrastructure, and HR challenges.
6. Data will continue to create differentiators.
From his side Dr Fred Moavenzadeh, President, Masdar Institute, said: "Over the past almost 200 years, the oil and gas industry has remained one of the most technologically innovative industries in the world. Comparing the current upstream and downstream technologies in the oil industry with those even 50 years ago shows dramatic technological change that has come about as a result of innovation. Oil and gas industry still continues its innovation. For example innovative technologies such as 'fracking' have fundamentally transformed the oil and gas sector, while ushering in a new era for energy producers. Such innovations will continue to drive productivity and improve returns as the world keeps looking for efficient and sustainable energy solutions.
"At Masdar Institute, our students are entrusted and motivated to move towards innovation and entrepreneurship in clean energy. We have put in place programs and centers that assist our innovations to penetrate the marketplace. Through such initiatives, we aim to incentivize and encourage innovation in the energy sector." Said Dr. Movenzadeh
Khaled Eid, Managing Director, World Development Forum - The organizer of the OT Summit said "Oil & Gas and IT, exploration and production companies can start to achieve greater business insight by embracing next-generation technology. There are numerous opportunities to use technology to improve operations within the Oil & Gas sector. After years of pursuing separate standards initiatives, the Oil & Gas sector is now addressing IT as strategic approach to achieve business goals in light of rise of new trends such as Big Data, Cloud Computing, and Real-time Analytics.
OT Summit is the platform to discuss the industry most pressing issues, featuring the leaders at the forefront of the industry innovations, I believe that the participation of international figures like Mr. Mike McConnell, Vice Chairman Booz Allen Hamilton, Dr. Fred Moavenzadeh, President of Masdar Institue of Technolgy & Prof. Miguel Sousa Lobo, Professor of Decision Sciences, INSEAD in addition to the distinguished speaker faculty we have this year will offer a worthwhile learning & networking opportunity for the industry leader " concluded Eid
The 7th edition of the OT Summit attracts leading industry experts from the Oil, Gas and Industrial sectors within the GCC region as well as leading technology providers.
INSEAD is the knowledge partner of the OT Summit and sponsors are Booz Allen Hamilton, Software AG, Cognizant, Adaptive Engine, Global Knowledge.
© Press Release 2013
