OTC 2023: Technology innovation key to energy transition

Aramco's presence at this year's Offshore Technology Conference (OTC), May 1-4, showed how the company continues to invest in oil and gas while working side-by-side with alternatives and new uses for hydrocarbons to reach a net-zero future.

With 18 technical papers and daily in-booth presentations from researchers, Aramco illustrated its ability to operate with one of the lowest average upstream carbon intensities of any major producer in the industry.

With this year's theme 'delivering the future of offshore energy' discussions focused on decarbonization:  addressing offshore CO2 storage, overcoming challenges in carbon capture, storage, and utilization, and improving enhanced oil recovery projects with novel technologies and sustainable chemical applications.

Conference keynotes echoed the continued need for oil and gas offshore developments as essential to the energy transition to provide clean, reliable, and sustainable energy to meet growing global demand.

Accelerating the Energy Transition/Development of Hydrogen Business

During a panel discussion on day two of OTC's “Around the World Series,” Aramco's Senior Vice President, Procurement & Supply Chain Management, Mohammad AlShammary offered insights into how the company is accelerating the energy transition in Saudi Arabia.  “Partnerships are important,” said AlShammary.  “Without partnerships we can't develop and accelerate these new technologies.”  He pointed to Aramco's $1.5 billion Sustainability Fund to find partners to help accelerate new technologies to help address complex climate challenges.    

AlShammary also shared Aramco's work on developing a hydrogen business, noting the company is actively analyzing market potential, demand, and future volumes of hydrogen and developing strategic partnerships.

R&D Portfolio Focused on Sustainability

Visitors to Aramco's booth heard presentations on novel routes for hydrogen production, the application of artificial intelligence and machine learning algorithms to detect greenhouse gas emissions, and how proprietary drilling and cementing systems are overcoming field challenges while minimizing carbon footprint.

“This is an exciting time for us in R&D,” said Mohammad Alaskar, R&D Director, Aramco Americas.  “Oil and gas, supported by technology innovation, is key to a global energy transition.  Our research and development portfolio focuses on sustainability.”

Representatives from Aramco Ventures, the venture capital arm of Aramco, participated with in-booth presentations from a few companies in their investment portfolio.

Support for STEM Education

For a fourth consecutive year the OTC/SPE Energy4Me program was sponsored by Aramco.  Local area teachers attended a workshop with topical lectures, classroom materials, and an exhibit hall tour as part of the company's support for STEM education in the classroom.

Representatives from Procurement & Supply Chain Management discussed opportunities for partnerships with manufacturers to source high-quality materials and services as we continue to grow our global operations.

Aramco was a platinum level sponsor with conference attendance more than 31,000 this year.