‘Technology’ll check poor forecast, risks in oil industry’

An indigenous player in the upstream sector of the oil and gas industry, Seplat Petroleum Development Company Plc, has stressed the need to deploy modern technologies in the industry.

Its Executive Operations Director,  Mr. Effiong Okon, said the adoption of technologies, such as Artificial Intelligence (AI), big data and mobile technology, would not only drive planning and forecast, but help in addressing risks associated with the business in the industry.

Okon spoke at a panel session of the Society of Petroleum Engineers (SPE), Nigeria Council’s annual conference that focused on: Artificial Intelligence, Big data and Mobile technology: Changing the Future of the energy industry in Lagos at the weekend.

Speaking on: Transforming Big data and technology to Business value: Challenges and strategic options, Okon said leveraging cloud computing and big data, for instance, promotes accurate forecast of oil production for planning. This, 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, he said operators can get predictive analysis through smart drilling; guarantee early identification of drilling anomalies, hazards to well control problems. It could help to develop more Enhanced Oil Recovery (EOR) techniques;  real time data through Logging While Drilling (LWD) and Measurement While Drilling (MWD), he added.

He said 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). This  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.

“With the right technology, we can identify rock and fluid properties through Magnetic Resonance Imaging (MRI); locate new oil fields through Wide azimuth towed streamer (WATS) Acquisition; and analyse big data through Ground Penetrating Radar (GPR) for cost efficiency.

“It also applies to oil/gas transportation while connecting pipelines, sensors, leak detection, alarms and emergency shutdowns; using drone technology for pipeline surveillance.

“Internet of Things (IoT) is revolutionising midstream pipeline operations through Supervisory Control and Data Acquisition (SCADA) -based applications,” he said.

In the area of refining, Okon said operators could now analyse economic indicators and weather patterns for forecasting demand, pricing and resource allocation while optimising integrated refineries and leveraging machine learning for predictive analysis and self-diagnosis by refineries.

He said: “These technologies have a huge role to play in the future of the oil and gas industry. The need for smart, cost efficient ways to access unconventional reservoirs is undoubted.”