With energy demand surging worldwide, oil and gas companies in the Middle East face daunting challenges daily, according to a top official, GN reported.
"We believe companies are anxious to enhance global performance. This industry generates mountains of valuable data that, if analysed and leveraged correctly, could make a significant difference in efficiency and profits," said Frank Mollerop, vice-president, SAS Global Oil and Gas Business Unit.
Business intelligence and analytic software and services firm SAS recently created a new unit - Global Oil and Gas Business Unit, a division dedicated to the advanced technology needs of the worldwide energy industry.
The new unit aims to further leverage the booming oil and gas sector in the region, which has seen tremendous growth in terms of oil wealth - reaching more than $30 trillion from 1995 to 2007 - by delivering state-of-the-art business intelligence solutions.
"As regional companies continue to seek ways to leverage their information assets while streamlining their operations, SAS offers decision makers in the industry effective services and solutions, which will assist in maximising performance through more efficient operations," Mollerop said.
Quoting Business Monitor International's latest report, he said the Middle East and Africa (MEA) gas supply growth of 65 per cent between 2007-12 will outstrip demand expansion of 57 per cent, with net exports set to rise to 291 billion cubic metres by 2012.
He said the UAE is expected to account for 4.24 per cent of Middle East oil demand by 2012.
The report said regional oil usage should average 10.86 million bpd this year and then rise to around 11.84 million bpd by 2012. In terms of natural gas, the region in 2007 consumed an estimated 371 billion cubic metres, with demand of 542 bcm targeted for 2012.
"Delivering sustainable solutions is our strategy to build a strong reputation within this industry," said Peter Venn, business development director: oil and gas, SAS - Middle East and Africa.