The upstream oil and gas sector will be more efficient five years from now on the back of increased technology adoption, according to Elohor Aiboni, Managing Director, Shell Nigeria Exploration and Production Company Ltd (SNEPCo).
Highlighting changes in the oil and gas sector, Aiboni said five years from now, the upstream sector will become a much cleaner industry as the greenhouse emission takes its stand.
“We will also be more cost-efficient and more resilient and that is where the transformational journey of digitalization and technology comes in,” Aiboni said while speaking at the ongoing BusinessDay CEO Forum.
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Unprecedented occurrences and constantly changing activities in the world have made it crucial for businesses to adopt technology and embrace collaborations to ensure sustainability. “To drive efficiency in any organization, we must embrace digitalization and technology and if we say people are our assets, we have to focus on reskilling them,” she said.
Aiboni said that the changing world creates new sets of risks that have to be dealt with, however, it also presents opportunities for businesses to scale.
Aiboni also said that collaboration has become a crucial business element for sustainability seeing that change has become a regular constant in today’s world.
“Strategic partnership and collaboration are key levers every single business in Nigeria must embrace because this is what will create opportunities to help manage the uncertainties that come with the various types of risk that we will begin to see in the next couple of years,” she said.
