Search DubaiPRNetwork.com

Home >> Energy and Industry

New oil discovery in Gulf of Suez offshore Egypt - AspenTech statement

Wednesday, October 30, 2019/ Editor -  

Share

Home >> Energy and Industry

Dubai, United Arab Emirates - October 29, 2019:     The recent breaking news about a large new oil discovery in the Gulf of Suez offshore Egypt - with estimations of about 200 million barrels of oil in place – is significant. This will further drive the rapid  development of the offshore E&P business as well as the onshore, midstream and refining sectors as Egypt’s oil and gas industry modernizes and expands.   Not only is it significant for Egypt, but also for the region, global energy markets and AspenTech’s business in the Middle East. 

Even bigger is the opportunity to take advantage of an important time and true inflection point for industry. The volume of data being collected within our customers’ businesses has increased exponentially, and the insights that can be derived from it are now enabled by high-performance computing and cloud technologies, making analysis and predicting outcomes around complex problems a reality in a way that conventional engineering, operations and maintenance technologies have not been able to in the past. 

The energy industry is no stranger to data. Virtually every oil, gas and petrochemical enterprise has been pursuing digitalization for decades. This is now changing with increased focused on digital technologies. The key to benefiting from digital transformation is to select those areas of investment that create the most value and enable sustained operational excellence.  However, the real prize of digital transformation is operational excellence. As much as technology is an enabler, the domain expertise and process knowledge needed to be truly successful with any new technology — let alone predictive analytics — cannot be understated.  

AspenTech is looking forward to continuing to serve Egypt, the region, our industries and customers during this important time. - Rob Howard, Vice President Sales, MENA, AspenTech


Previous in Energy and Industry

Next in Energy and Industry


Home >> Energy and Industry Section

Latest Press Release

Lincoln Aviator Presidential Takes on Bumps and Dips, Turning Every Trip into a ...

Telenor, Sony and Ericsson Team to Develop Smart IoT Healthcare Devices

FEM Collaborates with Arab Comedian Maya Acra to Address the Taboo Around the To ...

Allocations to Emerging Markets Debt and ESG-Related Bonds on the Rise

Twentieth “World Milk Day” Sees NFPC Innovate With New Products That Meet Changi ...

Debut Arabian Travel Market Virtual Event gets Underway Tomorrow

Sony Middle East & Africa Introduces New Digital Camera ZV-1, designed for Vlogg ...

Renault of Arabian Automobiles presents exceptional offer on DOKKER

Save the Date for Triyas Challenge 2021

Omega Announces Its Role as the Official Timekeeper of the 36th America's Cup

LG Joins Hedera Governing Council to Accelerate Innovation and Adoption of Publi ...

Maserati Commemorates the American Victories of the 8CTF at the Indianapolis 50 ...

The new BMW 5 Series

Parmigiani Fleurier Toric Fleur

Blue Ocean for Islamic Finance Industry

DTTAG New Executive Committee to Manage Post Covid 19 Return to Normalcy of Trav ...

Commodity Weekly: Crude Oil Frets Geopolitics, Sluggish Demand Bounce

Emirates Post Unveils Modern New Website and Look

Trina Solar Recognized as a "Top Performer" Module Manufacturer for Si ...

Al Ruwad Real Estate Appoints Alaa Masoud as General Manager of Sales and Market ...