Kuwait’s oil and gas industry leaders have gathered to discuss the future direction of the industry at the inaugural Honeywell Technology Summit, in support of the country’s long-term vision to become a global hub for the oil, gas and petrochemicals industry
The event, held under the patronage of Kuwait National Petroleum Company (KNPC), was attended by more than 300 industry representatives from major local organisations such as Kuwait Oil Company, Kuwait Integrated Petrochemical Industries Company, EQUATE Petrochemical Company and Kuwait Institute for Scientific Research.
Fahad Al-Humaidy Al-Daihany, deputy CEO for Mina Ahmadi Refinery from KNPC, commented, “As we work towards realising our national goals and visions, it is critical that we implement the latest solutions that will help drive growth and achieve greater results.”
The Honeywell Technology Summit was aimed at showcasing the connected technologies and Industrial Internet of Things (IIoT) for the future development of the country’s energy sector and the people who work within it.
“Technology and innovation are transforming the way we do business in Kuwait, particularly in the oil and gas sector,” said George Bou Mitri, president at Honeywell for Kuwait, Iraq, Jordan and Lebanon.
“Digitisation is expected to play a key role in maximising the future value of the industry, which is a core priority outlined in Kuwait Petroleum Corporation’s 2030 oil and gas strategy. This drive towards greater connectivity is also an important focus in achieving the goals set out in Kuwait National Development Plan 2035,” said the company in a statement.
The drive towards digitisation in Kuwait forms part of a wider picture for the Middle East, where digital markets are expanding at an overall compound annual growth rate of 12 per cent, thus estimating to add as much as US$820bn to regional GDP by 2020.
