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"Synergy, Commitment Are Key to Global Energy Sustainability, Says Bounour

By Favour Ifeoluwa & Akinola Ajibade  The Chief Executive Officer, Egbin Power Plc, Mr Mohktar Bounour says global transition to cleaner energ and sustainable environment are achievable, as long as there is strong synergy and commitment among stakeholders in the value chain.  He spoke during the maiden edition of  Asharami Square in Lagos. This is an initiative introduced and implemented by the Sahara Group, in order to amplify discourse on energy sustainability through  media advocacy globally. He said: " Having analyzed the percentage of global greenhouse emissions attributed to sectors including electricity/heat production, agriculture/forestry and transportation, we are realised that there is need for synergy  and renewed commitment among stakeholders". According to him, Egbin Power has unwavering commitment to reduce carbon emissions and promotes sustainable energy sources, stressing that the need to depeening engagement and advocacy among stakeholders in
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Oil firms leverage on technology to improve growth


By Akinola Ajibade 

Oil and gas companies are tapping into digital technologies to improve productivity and profitability, says GlobalData, a data and analytics company said

Digitalization, which involves the adoption of digital technologies such as artificial intelligence (AI), big data, cloud computing, cybersecurity, the Internet of Things (IoT), and robotics in day-to-day oil and gas operations, is enabling the industry to improve productivity and profitability by streamlining operations and cutting costs, it added in a latest report.

According to GlobalData’s report, ‘Digitalization in Oil and Gas – Thematic Research’, digital technologies can deliver actionable insights for an oil and gas asset and help companies to reduce their capital and operating expenditures.

Ravindra Puranik, Oil and Gas Analyst at GlobalData, said: “The adoption of digital technologies in the oil and gas industry has been previously hindered by the shortage of skilled technicians, concerns over data security, and cost-benefit uncertainty for adapting aging assets. However, since the technologies have the ability to transform the industry and create a synchronized ecosystem to meet future energy demands, an increasing number of oil and gas companies are upgrading their assets with digital technologies for long-term gains.

“Minimizing equipment downtime while enhancing operational performance remain key focus areas for increasing company revenues. There is also a growing emphasis among producers on digitalizing workflows to enhance operational visibility for improved decision making.”

Leading oil and gas players are increasingly collaborating with technology vendors in a bid to develop custom digital solutions that address their needs.

TotalEnergies has collaborated with IBM to develop predictive drilling analytics to aid precision drilling. Similarly, Equinor has developed and deployed its digital twin, Echo, in its North Sea operations by leveraging its exploration and production (E&P) expertise in the region.

Concepts such as digital twins and predictive maintenance are increasingly being modified to suit the different use cases of the oil and gas value chain.

Puranik added: “Digital technologies are improving the oil and gas industry by streamlining processes and creating new frontiers for operations. These technologies are well suited to tap new hydrocarbon deposits, boost operational efficiency, and reduce methane emissions.”

 

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