Abdulkareem M. AlSofi
Section Editor, Petroleum Engineering Specialist, EXPEC Advanced Research Center, Saudi Aramco, WPC YPC Representative, Saudi Arabia
As controversial as it may sound, it is my job as a Petroleum Engineer to ensure the age of oil and hydrocarbons never ends. Our friends in geosciences help us by exploring for new resources. We push the envelope in the way we develop these resources, as evident by recent successes in creating value from marginal and unconventional fields, The industry reinvests in research and development across exploration, development, and refining to bring about innovations that create value and opportunities.
These developments assure the continuous availability of affordable energy that fuels global economic growth. In fact, the industry’s ability to cope with the global pandemic’s effects was a testament to the value of earlier investments in innovations and technology, specifically digitization. Even prior to the breakout of COVID-19 there was a growing focus on technology as part of the fourth industrial revolution, including the use of big data and artificial intelligence.
However, conventional efforts in exploration, development, and refining will no longer be enough. To continue succeeding in fulfilling our role, we need to make sure that our fuel is not only accessible and economical, but also environmentally acceptable. Oil and hydrocarbons must be competitive not only in dollar terms but also from a greenhouse gas (GHG) emission perspective. In other words, the industry must expand its value chain to encompass the carbon footprint of its operations and then invest and innovate to reduce its footprint. We already see this happening but further promotion of green innovations might be necessary.