Track: Industry 4.0

Abstract

The 4th industrial revolution (4IR) has caught the attention of many researchers and organizations around the world and they have started to work towards the implementation of such technological advancement. Saudi Arabia has caught the attention of local industries in the implementation of 4IR technologies. However, local oil and gas companies may encounter challenges that affect their business in implementing 4IR technologies. This paper aims to identify challenges affecting the implantation of 4IR technologies in the oil and gas sector. Several challenges have been identified in this study based on the literature and experts interviewed. Data were collected and analyzed using descriptive analysis, exploratory factor analysis, and hypothesis testing to identify, analyze and justify the main challenges affecting the implementation of the 4th industrial revolution technologies in oil and gas companies in Saudi Arabia. The top 5 ranked challenges were identified as having ‘security issues as the first and main challenge, following are ‘low 4IR understanding’, ‘Lack of integration of technology platform’, ‘Lack of global standards and data sharing protocols, and ‘Lack of government support and policies. Tackling these top 5 main challenges now will provide a clear path to implementing the 4th industrial revolution technologies in local oil and gas companies.