2Nd Asset Integrity And Process Safety Conference To Focus O...| MENAFN.COM

Friday, 12 August 2022 08:29 GMT

2Nd Asset Integrity And Process Safety Conference To Focus On The US$652 Bn Worth Of Oil And Gas Projects In MENA


(MENAFN- Mid-East.Info)

The two-day forum that will take place from June 8 to 9, 2022, in Abu Dhabi, United Arab Emirates, will bring together decision makers, industry and technology experts, and influencers from across the region. The conference will share insights and best practices to tackle current and future challenges to increase productivity while meeting the best industry standards for asset integrity and process safety through case studies. Technical presentations and engaging panel discussions.

News Highlights:

  • The total revenues for the oil and gas drilling sector came to approximately US$2.1 tn in 2021 worldwide, according to market research by IBISWorld
  • US$652 bn worth of oil, gas and petrochemicals projects planned across the MENA region, according to MEED Projects
  • The MENA region is planning to add 2 mn b/d of refining capacity by the end of 2022, according to MEED Insights and Market Research.com
  • More than US$200 bn is expected to be ploughed into new refining and petrochemicals ventures in the GCC by 2025, according to Oil Review Middle East
  • The global market size, measured by revenue, of the Global Oil & Gas Exploration & Production industry is US$5 tn in 2022 and expected to increase 27.5% by end of 2022, according to IBISWorld

More than 250 delegates including decision makers in asset integrity and process safety, industry experts and key stakeholders in oil and gas sector will congregate at the forthcoming 2nd Asset Integrity and Process Safety Oil & Gas Conference that will take place from June 8 to 9, 2022, in Abu Dhabi, UAE. The program will discuss best practices to tackle current and future challenges and increase productivity gains while meeting safety and environmental standards in the oil, gas and petrochemical industry in the Middle East and North Africa (MENA) region. 

The high-profile two-day international conference takes place at a time when governments have planned to launch US$652 billion worth of oil, gas and petrochemicals projects across the MENA region, according to MEED Projects, a regional project tracker. These offer abundant future opportunities for contractors, consultants and suppliers working in the oil, gas and petrochemicals sector in the region.

As oil and gas and petrochemical sectors are capital intensive, maintaining optimal performance levels are critical to sustain profitability. Asset integrity and process safety are strongly interrelated and of significant importance as they play a key role in anticipating and preventing events in advance and recommend appropriate action plans for optimal performance. It is always critical to have safe and smooth operations of oil and gas facilities and installations, from oil fields and offshore platforms to pipelines and refineries.

Countries in the MENA region are planning to add 2 million b/d of refining capacity by the end of 2022. More than US$200 billion is expected to be ploughed into new refining and petrochemicals ventures in the GCC by 2025.

Leila Masinaei, Managing Partner, Great Minds Event Management, the organiser of the 2nd Asset Integrity and Process Safety Oil & Gas Conference, says,“The world, especially the MENA region, has huge projects going on in the Oil and Gas industry in the coming years. To maintain safety and environmental standards will be a big challenge for the industry players with US$652 billion worth of oil, gas and petrochemicals projects planned across the region. 

“The 2nd Asset Integrity and Process Safety Oil & Gas Conference is taking place at the very right time, when everyone from the industry needs to come together and support each other for a better result and to face all the coming challenges together.” 

According to market research by IBISWorld, a leading business intelligence firm, the total revenue for the oil and gas drilling sector came to approximately US$2.1 trillion in 2021 worldwide. This sector is composed of companies that explore for, develop, and operate oil and gas fields.

Developing asset integrity and process safety management plans that utilise the best methods and solutions at optimised frequency while reducing costs and maintaining assets in their best possible state is the goal. However, the industry still struggles with attaining excellence in asset integrity and process safety due to critical challenges, such as the change in operating parameters versus design stage, material degradation, corrosion, fatigue and deviations from the fundamental principles of HAZOP.

The global market size, measured by revenue, of the global oil and gas exploration and production industry is US$5 trillion in 2022 and expected to increase 27.5 percent by end of 2022. The market size of the industry has grown 12.3% per year on average between 2017 and 2022, faster than the economy overall.

“The United Arab Emirates is estimated to hold the seventh-largest proven oil and natural gas reserves globally. Having this conference at the capital of the Emirates is the best place we could choose to host this industry gathering.”, says Leila Masinaei.

The country produces an average of 3 million barrels of petroleum and liquids per day and has oil reserves of 100 billion barrels. 

The UAE seeks to develop unconventional oil and gas production. In 2020, the UAE announced the discovery of over 80 trillion cubic feet of gas resources at Jebel Ali. The country is seeking to become self-sufficient in gas supply by 2030.

In line with this, the 2nd Asset Integrity and Process Safety in Oil & Gas Conference, taking place on 8 – 9 June 2022 in Abu Dhabi, UAE, will bring together decision makers, industry and technology experts, and influencers to share insights and best practices on how to effectively manage assets to deliver value, and showcase the latest technological advancements and innovative solutions to tackle current and future challenges to achieve productivity gains while meeting safety and environmental standards.

Over 25 speakers, 250 industry leaders, 10+ countries will be participating in the two-day forum. The participants will include decision-makers, directors, heads and specialists from asset integrity, operations, pipeline integrity, maintenance, corrosion, business continuity planning, process safety, design & engineering, digital transformation, plant management, automation, information technology, data analytics & data science and many other departments from the oil & gas and petrochemicals industry. 

The topic for the forum will evolve around reliability, safety and cost effectiveness, adding critical value to hazard prevention and risk management, latest technologies in asset integrity and process safety for the oil and gas sector, utilising comprehensive risk assessment to ensure operational integrity for critical decision making, digital solution to asset life cycle management, developing a reliable and proven program for successful implementation, utilising HAZOP analysis for risk identification and assessment, exploring Process Hazard Analysis (PHA) techniques used to analyse system hazards and operability issues by exploring deviation effects, minimising corrosion rate by improving material selection, understanding the key elements to a robust integrity and process safety framework etc, 

The 2nd Asset Integrity and Process Safety Oil & Gas Conference, is supported by COGNITE and SRJ Technologies, among other leading players. 

About 2nd Asset Integrity and Process Safety Oil & Gas Conference

As oil and gas and petrochemical sectors are capital intensive, maintaining optimal performance levels are critical to sustain profitability. Asset integrity and process safety are strongly interrelated and of significant importance as they play a key role in anticipating and preventing events in advance and recommend appropriate action plans for optimal performance. It is always critical to have safe and smooth operations of oil and gas facilities and installations, from oil fields and offshore platforms to pipelines and refineries.

In the 2nd Asset Integrity and Process Safety in Oil & Gas Conference, taking place on 8 – 9 June 2022 in Abu Dhabi, UAE, experts will bring together decision makers, industry and technology experts, and influencers to share insights and best practices on how to effectively manage assets to deliver value, and showcase the latest technological advancements and innovative solutions to tackle current and future challenges to achieve productivity gains while meeting safety and environmental standards.

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