Nigeria’s largest listed Oil & Gas firm by market value, Seplat petroleum development plc said through digitisation Nigeria’s energy companies can create a valuation of $1trillion which will help them thrive despite the turbulent market landscape characterized by volatile prices, regulatory overhangs around energy transitions to renewable energy, insecurity in oil production terrains and fiscal uncertainty.
Digitalisation in the energy sector involves the use of data to manage and control multiple operations. It drives efficiencies in energy management and automation systems. Importantly, workers in a digital industrial environment enjoy a massive increase in skills and productivity.
Stakeholders said digitised data gives all of the ease needed by energy companies to grow effectively and also conduct business more efficiently through automation.
“Digitalisation has the potential to create about $1trillion of value for Nigeria’s oil and gas firms,” Seplat’s general manager external affairs and communications Chioma Nwachuku said in her presentation titled “Powering the Future And Digital Transformation Of Nigeria’s Oil, Gas And Renewable Energy Sector With New Knowledge And Skills.”
Outlining on how Nigerian oil and gas industry can leverage on digitisation for sustainable development, Nwachuku said firms must invest in Technological Infrastructure, make digital transformation a business priority, increase collaboration among companies focus on digital strategy and security while at the same invest in research and development to turn ideas into commercially viable technologies.
Nwachuku said rather than depend on the size and scale of its assets alone, Seplat is driving innovation to maintain its leading position.
Seplat has installed intelligent sensors on all gas plant and select flow stations at Oben, Okporhuru and Orogho gas fields while Sensor calibration and Site Acceptance Tests (SAT) was also put in place to ensure data reliability, reproducibility and integrity.
Other digital impacts on Seplat’s operations include remote monitoring of wellhead pressure and temperature, use of an ‘as-built’ model of facilities that can be viewed through the Navisworks software, use of Infor EAM software to optimize contracting and procurement processes and deployment of Power BI to track key performance indicators for efficient decision making.
In the last five years, Seplat said it have invested over $8million on training work force which is expected to promote new, digital thinking to drive a culture of innovation and technology adoption in the organisation.
Nwachuku said embracing digital transformation is important as advances in technology across the globe is affecting oil and gas exploration, production, distribution and marketing.
“The digital transformation of the Nigerian oil and gas sector involves the changes arising from the application of digital technology to the industry. It has provided opportunities for companies to save millions from operating costs, reduce carbon footprint and enable smarter and more efficient asset base,” Nwachuku said.
“Whether in the oil and gas or renewable energy sector, future winners will need and skills,” Nwachuku concluded.
DIPO OLADEHINDE
