Digitization is a central focal point for the O&G industry’s future-proof strategy toward net zero future. Yet, adopting these digital technologies is the sector’s biggest obstacle. Israel is the solution as it offers an extraordinary high-tech digital innovation ecosystem to a wide range of energy industry challenges. It has the potential to provide the O&G industry with game-changing technologies that can carry it into a net-zero future. There are hundreds of Israeli entrepreneurs, high-tech startups, researchers, and larger companies potentially relevant to addressing the O&G industry’s most pressing needs.
Second only to Silicon Valley in California in the total number of technology startups, Israel’s R&D excellence comes from the combination of top-tier human resources, a “can-do” culture of thinking “out of the box,” and a natural tendency to take the initiative and accept risk, all backed up by excellent business and technological infrastructure. There are more than 1400 start-up companies with technologies that are applicable to the Oil and Gas Industry.
Israel is perfectly positioned to help the Oil and Gas industry in its digital transition: The combination of Israel’s government, academia, and innovation community focus can make Israel a global innovation hub that benefits the industry.
Israel has a high competitive advantage and an ocean of innovative solutions to support the oil and gas industry in its transition into becoming more focused on energy and digital solutions: from data tagging, data analytics, and AI analytics to digital twins, automated and autonomous solutions (e.g., industry 4.0, mobility) image analytics (e.g., digital health), and solutions that reduce negative environmental impact and increase efficiencies. All of these technologies are very needed in the oil and gas/energy industry.
There currently exists a huge opportunity to develop partnerships between world-leading players in the O&G industry and Israeli technological innovators and Investors. Israeli high-tech entrepreneurs and established companies alike are well positioned to pivot towards becoming major providers of invaluable technological solutions to the global O&G industry. Through building close working relationships with Israeli companies, the innovation arms of leading O&G industry giants will be exposed to extraordinary core technologies and solutions while exposing
Close collaboration between Israeli innovators and investors with the O&G professionals and investment arms will enable the creation of new joint solutions and high-quality deal flow.
For investors, these relationships will allow efficient due diligence of potential investment with professional industry partners, reduced investment risk, increased opportunities for co-investment, shortened paths to building highly valuable strategic partnerships, and a new era of successful M&A deals in this space.
Today is an ideal time, ripe with excellent opportunities, for investors to build partnerships that will create the future of the oil & gas industry, a powerful, wealthy industry that is constantly looking for decarbonizing digital solutions.