– Company to deploy AI in next oil drilling campaign
Oritsegbubemi Omatseyin
Lagos — The Group Chief Executive Officer of Oando Plc, Wale Tinubu has revealed that the Company is set to spearhead a significant shift towards cleaner energy in Nigeria with plans to deploy 5,000 electric commercial vehicles in Lagos State.
The decision of the firm to invest in electric vehicles, particularly public transportation, was triggered by its commitment to adopt cleaner energy solutions as part of its energy transition drive.
Speaking in an interview with CNBC Africa on the sidelines of the World Economic Forum in Davos, Switzerland, Tinubu emphasised the need for a just transition away from fossil fuels, recognizing that Africa, despite contributing only a minuscule three percent of global emissions, bears the brunt of climate change.
“Africa cannot afford to abandon its vast energy resources while millions of its citizens lack access to basic electricity. We must utilize our natural gas resources responsibly as a transitional fuel to power our development and improve the lives of our people,” he stated.
He added:“The arguments for decarbonisation are as important as those for a just transition. Africa has 45% of the people with no access to electricity, and we need to use our gas as part of the energy mix while working towards cleaner solutions.”
Tinubu noted that, as a major player in Nigeria’s oil and gas industry, Oando is adopting electric vehicles as part of its efforts to support global decarbonisation.
“For every unit of carbon we contribute to the environment, we are also implementing carbon capture techniques to offset this impact,” he explained. “We are prioritising the development of clean energy solutions, such as e-vehicles, as part of our broader commitment to a sustainable energy transition,” he said.
Speaking on the planned electric commercial vehicle, he said: “We are using gas as a transitional fuel to create electricity to generate the power to power buses. Transport accounts for 10 per cent of global emissions, so if we tackle public transport, we would be able to reduce emissions by five per cent almost immediately.
“The first step we’re doing now is also working on a public system of being able to transit the bus system in Nigeria from diesel or petrol to electric vehicles, starting with a project that we’re working on with the Lagos state government as a pilot case where we expect to see up to 5,000 buses, e-buses, being deployed in our streets.”
Tinubu also hinted at the potential deployment of artificial intelligence in the company’s next drilling campaign, as the company aims to enhance operational efficiency through technology.
He explained that the deployment of AI has become necessary to effectively utilise resources, and improve overall performance in Oando’s upcoming projects.
“It (AI) is a big game-changer. For example in our drilling operations, we have to make serious decisions which have a high impact on cost. And being able to throw in all the potential answers to our questions based on old experiences, by having a whole sequence of possibilities which can be taken through artificial intelligence. So it is something we are looking forward to deploying in our next drilling campaign,” he disclosed.
