Global Arab Network | Saudi petrochemical: Demand for analytical intelligence amidst government’s plan to invest 0 bln

Translate this article to your language:

GANPublications

e-Publications

Add Site to Favorites

Add Page to Favorites

Make Homepage

Share This Page

RSS Feed

--------------------------------------------------------------------------------------------------------------------
| |

Saudi petrochemical: Demand for analytical intelligence amidst government’s plan to invest $100 bln

Tuesday, 19 January 2010 11:40

SAS, the leading provider of analytical intelligence (AI) software and services in the region, is eyeing the demand for AI solutions in Saudi Arabia (KSA), which is expected to be fuelled by the Saudi Energy Ministry's plans to increase investments into the petrochemical industry to USD 100 billion by 2015. Committed to helping oil and gas majors augment revenues while minimising costs, the company is highlighting its unique 'Predictive Asset Maintenance' solution at the Manufacturing Enterprise Solutions Association (MESA) Conference, being held today (January 19, 2010), at Movenpick Hotel in Al Khobar.

The Kingdom's investment plan, which is expected to boost the petrochemical industry's production capacity by 20 million tons per year, will have significant implications on its IT spending within the next three years, with a study from research firm BMI projecting an 11 per cent compound annual growth rate, which will bring total spending to USD 5.6 billion by 2013.
Fully aware of the importance of technology-driven AI solutions to their business, representatives from more than 10 key O&G companies, including major players such as Saudi Aramco and Sabic, have confirmed their presence at the MESA Conference. In addition, Peter C. Venn, Regional Director - Oil & Gas, SAS MEA will deliver a lecture under the topic 'Predictive Maintenance: A New Approach to move from Time Based Maintenance to Risk Based Maintenance'.

"Saudi Arabia continues to be a potent investment and business destination for a wide range of oil and gas projects, especially with its significant investments into infrastructure to support its own high-profile oil and gas projects," said Peter C. Venn. "We are committed towards contributing to the growth of the Kingdom's petrochemical industry through technologically-advanced solutions that can extricate strategic business intelligence from huge volumes of data.

One such solution is our 'Predictive Asset Maintenance' software, which enables oil and gas companies to increase revenues and minimize cost by reducing asset and plant downtime. The solution has unique analytical and statistical capabilities that will be able to predict equipment failures or performance degradations before they occur, thereby giving the concerned teams enough time to take corrective actions that will prevent shutdowns and potential production losses."

Designed to reduce asset and plant downtime, the 'Predictive Asset Maintenance' software maximises the use of maintenance resources, thereby enabling oil and gas companies to meet operational goals for production, profitability, safety and environmental compliance. In addition, SAS's extensive expertise in the oil and gas industry, which extends to its strong relationship with global clients such as ConocoPhillips, Shell and Total, makes the company a dependable partner and information source among manufacturing companies, information technology hardware and software suppliers, system integrators, consulting service providers, analysts, academics and students who are expected to attend the event.

"Our main objective at the MESA Conference is to share the experience we have gained in the global oil and gas market, with local oil and petrochemical companies in the Middle East. We are hoping to further contribute to the growth of the Middle East market by giving organisations a fair idea regarding the extensive benefits of 'Predictive Asset Maintenance' in terms of facilitating proactive decision making and achieving competitive advantage," concluded Mohammad Kurdi, Business Manager: Energy, SAS Middle East.

Global Arab Network

Extracted from "Corporate release"

Add comment

The opinions of the authors in articles published are theirs alone and do not necessarily reflect the views of Global Arab Network
------------------------------------------------------------------------------
Published comments are the opinions of private individuals and do not reflect the views of Global Arab Network