Kuwait’s oil and gas industry leaders convened at the inaugural Honeywell Technology Summit to discuss the future direction of the industry, in support of the country’s long-term vision to become a global hub for the oil, gas and petrochemical 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.
In addition to the distinguished industry guests, the event also welcomed Patricia L Fietz, Chargé d’affaires, US Embassy, State of Kuwait.
Fahad Al-Humaidy Al-Daihany, deputy CEO, Mina Ahmadi Refinery, 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.”
“We believe events like this help shape new strategies for the future and provide us with an opportunity to develop skills and transfer knowledge. We are delighted to lead this movement towards smarter technologies within the energy sector and we thank our long-standing partner Honeywell for its commitment to Kuwait’s ongoing development,” added Al-Daihany.
The Honeywell Technology Summit showcased the importance of 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.
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.
“Technology and innovation are transforming the way we do business in Kuwait, particularly in the oil and gas sector,” said George Bou Mitri, president, Honeywell, Kuwait, Iraq, Jordan and Lebanon.
“Connected technologies are making processes more efficient and productive, and we are excited to be a part of this transition. We have been in Kuwait for more than half a century and that wealth of experience has enabled us to play a central part in the development of some of the country’s most significant oil and gas projects. We are thrilled with today’s event and look forward to continuing to support local industries in Kuwait as they work towards achieving the goals of Vision 2035,” added Bou Mitri.
The drive towards digitisation in Kuwait forms part of a wider Middle East picture, where digital markets are expanding at an overall compound annual growth rate of 12%. It is estimated that digitisation could add as much as $820bn to regional GDP by 2020. Studies also show that the adoption of digital solutions within the energy sector is increasing as IT spending within the Middle East oil and gas industry grew to around $1.66bn last year.
Honeywell has a long history of supporting Kuwait’s industries – including petrochemicals – through leading-edge technologies, efficient business solutions, local training, and research and development initiatives.
Over the last 50 years, Honeywell has delivered more than 2,000 projects for more than 165 customers in Kuwait and is currently involved in supporting the development of several of the country’s hospitals, airports, refineries, hotels, and education institutes.
At the event, Honeywell showcased a complete set of secure, IIoT-ready solutions across all elements of the industrial Internet. Along with the Connected Plant technologies, the technology summit presented the latest innovations for the oil and gas industry.
