Before Israel’s discovery of offshore natural gas reservoirs led to its transformation from a net importer of fossil fuels to a self-sufficient producer of its own gas supply, the country was hardly known as an energy powerhouse. But even without its rapidly developing natural gas industry, this tiny Mediterranean country would still be having an outsized impact on oil and gas worldwide – thanks to the Startup Nation’s abundance of cutting-edge technologies uniquely suited to the challenges and opportunities facing the industry.
To drill down on how Israeli technologies and know-how can unlock new value for energy companies, the Israel Innovation Authority hosted the second annual event “Digitalization and Automation in the Oil and Gas Industry – Challenges and Opportunities” from June 24th-25th in Tel Aviv. Energy industry executives from companies including GE and Noble Energy joined Israeli tech company leaders and investors for two days of programming covering use cases and possibilities for AI, data analytics, IoT, cybersecurity technology, and everything in between.
The Israel Innovation Authority calculates that there are 184 Israeli companies with value propositions for the oil and gas industry. Take cybersecurity, where Israel accounts for 15 percent of global investments since 2014. Operators of critical infrastructure – including oil and gas networks – have made big investments in recent years toward improving their cybersecurity posture, because of both the high stakes involved and the issuance of standards like the European Union’s NIS Directive, which requires critical infrastructure operators to ensure rigorous cyber protection.
Israel’s strengths in areas like AI, data analytics, and IoT are also enabling energy companies to optimize resource management, improve their network visibility, and create new efficiencies. As home to well over 300 multinational R&D centers, Israel’s status as an innovation hub keeps the country on the cutting edge.
Here’s a look at just a few of the Israeli companies whose solutions are enabling oil and gas companies to optimize their operations:
As businesses worldwide undergo digital transformation, Israeli technology is at the heart of many of the game-changing solutions that are enhancing companies’ operations, improving customer service, and making our world more efficient. In a world that runs on energy, the energy industry increasingly runs on Israeli innovation.
For more information, please visit http://www.itrade.gov.il/ or contact your local Israel Economic Attaché.