Utilizing Blockchain, AI, and IoT ADNOC is implementing its digitization strategy to the fullest
The Abu Dhabi National Oil Company (ADNOC) has stated that Panorama Digital Command Center (Panorama) has generated over $1 billion (AED 3.67 billion) in business value since its inception three years ago. Panorama is a key part of ADNOC’s ongoing strategic investments in digitization, blockchain and artificial intelligence (AI) to enable the company to drive greater efficiencies, optimize performance, and respond to complex market dynamics with agility and speed, as it continues to deliver on its 2030 smart growth strategy.
Panorama aggregates real-time information across ADNOC’s 14 specialist subsidiary and joint venture companies and uses smart analytical models, AI, and big data to generate operational insights and recommendations. In addition to the business value Panorama has enabled, it has also proven to be a valuable asset in navigating the current COVID-19 situation. The access to real-time data and analysis provided by Panorama enables simulations and scenario planning, and plays an important role in ADNOC’s business continuity.
Abdul Nasser Al Mughairbi, Senior Vice President, Digital at ADNOC, said: “The importance of embedding digital technology in businesses has never been greater and ADNOC’s continuous investment in digital transformation over the last three years allows us to be more resilient, agile and responsive in navigating today’s market landscape. Our t acts as our ‘eyes on the ground’ and enables speed, accessibility, and integration across our operations – key attributes that are required to make smart business decisions.” he adds, “We believe in being forward-thinking in our digital investments at ADNOC, and are committed to leading the way with our digital transformation efforts to drive further value. We continue to responsibly advance projects for the next phase of our digital journey, including expanding our AI solutions, rolling out new blockchain applications, and enhancing our digital modeling capabilities.”
Managed by the ADNOC Group Digital team, Panorama is currently being accessed through secure remote work settings. In addition to its digital transformation journey, ADNOC is also leveraging technology to strengthen its health, safety, and environmental (HSE) performance. An HSE information system is currently being built into Panorama, enabling real-time readings across multiple environmental key performance indicators.
Panorama is just one of many digital transformation initiatives by ADNOC. Other digital initiatives include its smart data analytics Thamama Subsurface Collaboration Center; its use of AI-assisted value chain modeling, rock image pattern recognition, and predictive maintenance technologies; and blockchain-based hydrocarbon accounting, to name a few.
ADNOC announced the pilot project for blockchain based Hydrocarbon accounting in 2018 with IBM. ADNOC will be presenting a session on the Panorama Digital Center and its use of Blockchain during the Future Blockchain Summit in December in the UAE.