Saudi Arabia to invest $119 bln in energy infrastructure projects
Saudi Arabia is expected to invest $119 billion in energy infrastructure projects from 2007 to 2009, according to latest studies, with investments in the refining sector being expected to grow by a staggering 2189% within the same period compared to figures from 2004 to 2006.
The sizeable opportunities within the oil and gas sector have been identified by SAS, the leader in business intelligence and analytical software and services, which aims to deliver business-critical solutions to aid decision making within the oil and gas sector. As burgeoning energy requirements continue to mirror the current pace of economic development across the region, National Oil Companies (NOCs) including upstream, midstream and downstream operations in the Middle East are facing challenges such as ageing infrastructure and equipment, lack of efficiency in refinery processes and shortage in skilled manpower.
By utilizing SAS solutions, proven on the Norwegian Continental Shelf, companies can reduce the decision making cycle significantly, thereby lessening risk, increasing efficiency and enabling better use of investment funds. “In this rapidly growing industry, it is essential to make quick but intelligent operational decisions to ensure efficiency and maximize productivity. By integrating our solutions within their operations, issues that traditionally take months for companies to make a decision on can now be dealt with in a matter of days, which leads to less risks, better recovery rates and increased efficiency and production,” said Peter Venn, Business Development Director, Oil & Gas, SAS - Middle East & Africa.
Enabling companies to quickly create a logical data model that integrates all relevant data from simulations, process, product and equipment-related systems at multiple assets, fields and locations, SAS® solutions provide companies in the oil and gas sector a holistic view of their critical operation data as well as additional information with regard to their customers, suppliers and service providers. Organizations can also benefit from the solutions by basing their decisions on data from a precise monitoring of their operations and business performance, thereby gaining them valuable efficiency and effectiveness advantages.
SAS solutions have also gained wide popularity for its collaboration platform, which presents secure, accurate, consolidated knowledge in a way that enables managers and engineers to surface key issues, navigate hierarchical views of the data, perform targeted analyses and collaborate on all of this. Plant managers and work management groups will be able to consolidate financial data with information on operational measures and statistics such as well sensor, rotary equipment information and weather data. “Energy requirements across the globe are growing at a very fast rate, and it is critical for companies to address challenges that arise within the entire production process to meet the growing demands. For a company to be successful amidst the massive extent at which the oil and gas sector is growing, it is truly a tremendous advantage to utilize a robust decision- and collaboration-tool. As an organization with extensive experience and a pool of highly trained professionals, we are fully equipped to address this need,” concluded Venn.
SAS is the leader in business intelligence and analytical software and services. Customers at 43,000 sites use SAS software to improve performance through insight from data, resulting in faster, more accurate business decisions; more profitable relationships with customers and suppliers; compliance with governmental regulations; research breakthroughs; and better products and processes. (Press release, Arabian Business)
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