UAE’s ADNOC says Panorama command center generated over $1 billion in value
The UAE’s Abu Dhabi National Oil Company (ADNOC) said on Tuesday that its Panorama Digital Command Centre has generated over $1 billion in business value for the company over its three-year life span.
Panorama is part of ADNOC’s drive to efficiency through implementing artificial intelligence and digital technologies, enabling the firm to respond to market dynamics faster than before, ADNOC said in a statement.
“Our Panorama Digital Command Centre 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,” said Abdul Nasser Al Mughairbi, senior vice president, digital at ADNOC.
Panorama accesses real-time information across ADNOC’s 14 specialist subsidiary and joint venture companies and then uses analytics, artificial intelligence, and big data technology to generate insights. The platform is currently being accessed remotely as the coronavirus pandemic keeps employees at home.
“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,” Al Mughairbi said.
ADNOC is a top global exporter of oil, with the capacity to produce around 4 million barrels of oil and about 11 billion cubic feet of raw gas per day, according to the company’s website.
Oil markets are currently undergoing dramatic market upheaveal as the coronavirus pandemic erases global demand for crude. A historic output cut deal was signed between the world’s top exporters last month aiming to curb the market’s chronic oversupply problem. Producers are aiming to remove around 20 percent of current oil production from world markets.