Pace of Digitalization will Boost Expert Insights in Energy Sector

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Written by Richard Finlayson, Senior International Editor for Industrial Info Resources (Sugar Land, Texas)--Digitalization of the energy sector is imminent and will play a critical role in the way in which the industry operates, according to a keynote speaker at the Abu Dhabi International Petroleum Exhibition and Conference (Adipec).

"What we will definitely start seeing more of is digitization of the oil fields," said physicist Michio Kaku. "In the next 10 to 15 years, the Internet will be accessible through our contact lenses, allowing workers on oil fields to identify and communicate with one another. Since workers come from across the globe, this contact lens will not only provide an image of what the other individual is seeing, but also subtitles in any preferred language, immediately translating what is being spoken.

"The energy field also depends on expert insights, and very soon we will have intelligent wallpaper, which will be inscribed with artificial intelligence from the world's leading experts. Workers will have instantaneous access to the knowledge of geophysicists and experts in petroleum, with visuals that will help professionals in their practice. It will essentially be like having a flat screen that completely wraps around your room. We can expect this as soon as in the next five to 10 years."

Carbon sequestration is a "win-win" for both the environment and the energy sector looking 15 years on, Kaku said. The technology, which is under development, extracts carbon dioxide from industrial plants and injects it into oil wells to push oil into the pumps.

Hydraulic fracturing, oil field sensors that relay "real time" activity, satellite technology, and 3D printing also were some of the technological innovations highlighted.

"It is inevitable that the demand for energy will increase. With hundreds of millions of people in the developing world beginning to get a taste of middle-class life, they now expect this lifestyle and energy is the key to making it happen," Kaku said. "With the rise of the middle class comes the growing demand for energy, and both technology and the exploration of unconventional resources have critical role to play in meeting that demand."

Adipec 2014 ran under the theme "Challenges and Opportunities for the next 30 years."

Industrial Info Resources (IIR), with global headquarters in Sugar Land, Texas, three offices in North America and 10 international offices, is the leading provider of global market intelligence specializing in the industrial process, heavy manufacturing and energy markets. Industrial Info's quality-assurance philosophy, the Living Forward Reporting Principle™, provides up-to-the-minute intelligence on what's happening now, while constantly keeping track of future opportunities.