Lagos — The Executive Operations Director, EOD, at Seplat Petroleum Development Company Plc, Mr. Effiong Okon, has called for adoption of contemporary technologies like artificial intelligence, big data and mobile technology to drive planning and forecast in the Nigerian oil industry, and help address risks associated with the business.
The Seplat EOD said this at the 43rd Society of Petroleum Engineers, SPE Nigeria Annual International Conference and Exhibition held in Lagos, with the theme, “Artificial Intelligence, Big Data and Mobile Technology: Changing the Future of the Energy Industry”.
While delivering a presentation titled, “Transforming Big Data and Technology to Business Value: Challenges and Strategic Options”, during a panel session, Okon said leveraging cloud computing and big data, for instance, promotes accurate forecast of oil production for planning, which in turn, drives operational excellence – production optimisation and asset performance.
The use of predictive and data-driven maintenance for production and cost efficiency, according to him, has helped to reduce Mean Time To Repair, MTTR, and increase Mean Time Before Failure, MTBF, in the industry.
For drilling, operators can get predictive analysis through smart drilling; guarantee early identification of drilling anomalies, hazards to well control problems; develop more Enhanced Oil Recovery, EOR, techniques; and real time data through Logging While Drilling, LWD, and Measurement While Drilling, MWD, the Seplat executive noted.
He added that in the area of exploration and appraisal, technology had made it possible to obtain big data from sensors attached to equipment used during exploration/appraisal activities (seismic, wells), which will further help in improving subsurface mapping and new well delivery performance through micro-seismic 3D imaging.
Narrating the Seplat technology story, Okon said the company had continued to make conscious efforts to drive operations using contemporary technologies, with the right investments. According to him, Seplat’s investments in technologies are driven by measurable and justifiable value accruable to the company.