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Mr. Al Qahtani described his vision of energy’s future and what’s needed from the industry to meet the needs of the growing global population while advancing technology and sustainability.
The O&G industry is at a pivotal moment. It has embraced the digital transformation and now needs to commit to investments in technology and lower carbon emissions. The world is seeing the energy industry as part of the problem but we need to make them understand we are part of the solution. We need a clear vision of an energy future. We need an energy portfolio that meets the needs of a growing population, and their desire fro increased quality of life. We must engage in an orderly energy transition in which no one, no country is left behind. We want a future of reliable, affordable, safe, and clean energy for the world.

It’s realistic to envision oil and gas to continue for an extended future, to continue to shoulder the major responsibility for providing energy. But it must be a smarter oil and gas industry. We must focus on broader groups of stakeholders, and have a healthier dialog with the public. We need to look for collaboration beyond our industry for problem solving, not keep our problems to ourselves. We must actively pursue technologies to reduce emissions; and communicate our actions more effectively, correct public misconceptions, and make people understand that we are part of the solution.

Market turbulence has had a chilling effect on investment. Lagging investment is the single greatest threat to our future. Innovation comes from looking beyond our industry’s boundaries. We have the opportunity to transform our industry by working together.

We have to rediscover our passion for innovation to lead the 4th industrial revolution. By applying new technologies to analyzing data, we can transform the industry.

By Mohammed Y. Al Qahtani, SVP Upstream, Saudi Aramco