The oil and gas industry is the largest foreign exchange earner for the country, yet Nigeria is an oil producing country with the highest cost of production. A business solutions firm, Verraki, believes digitalisation could change the game, reports LUCAS AJANAKU
Business solutions firm focused on accelerating the development and transformation of Africa, Verraki Partners, has said digitalisation of the oil and gas industry will go a long way to addressing many of its challenges.
Its Energy Lead and Senior Partner, Real Sector, Mrs. Abayomi Olarinmoye, said upstream players could gain competitive advantage, operational excellence and financial transparency by embracing more automation in their operations and enjoy several benefits including increased productivity, reduced operational costs and highly engaged employees.
Mrs Olarinmoye, a former Managing Director, Accenture’s Resources Operating Group in Nigeria, identified several value-adding opportunities for oil and gas firms to deploy digital technologies which would serve as catalysts to achieve growth.
She identified increasing reliance on real-time data by international oil and gas operators and the need for players to adopt similar strategies given the existing infrastructure, security and operational challenges.
She identified use of apps as a service business models which allow operators to deploy technology customised to suit the size of their business operations.
She believes that if oil and gas firms maximise the potential of digital supply chain technologies, it would help to establish a new ecosystem of markets and alliance partners.
Mrs Olarinmoye said: “The energy industry is getting smarter and more intelligent as business operations and growth decisions are being backed by leading-She stressed that this becomes consequential, given the increasing demand for smarter devices and automated sensors on the field and a move to stay continuously connected with assets in remote locations.
“Investing in shared platforms for service delivery and adoption of these digital technologies by oil and gas companies will enable the ability to provide critical data in real-time without any downtime, hence improving co-operation within the ecosystems and their communities.’’
Mrs Olarinmoye urged industry players to take advantage of Verraki’s best practice techniques to deliver supply chain optimisation opportunities, digitise processes and guarantee production and efficiency improvements for oil and gas companies.
Verraki is focused on implementing technology and business solutions designed inherently for Africa and fit for purpose, while curating business ventures that would contribute to unlocking new sources of growth across the continent.
Led by foremost corporate professionals as well as former Accenture leadership in Nigeria, Verraki will apply its global expertise and local insights to partner with enterprises and governments to accelerate the development and transformation of Africa by providing business solutions uniquely tailored for Africa.