The
Association, during its January edition of the Monthly Technical Meeting in
Lagos, said the business of exploration has evolved, hence changes in the
current dynamics of operations need to be adopted.
In his
presentation, “The New Paradigm in Oil
and Gas Exploration and Production, Implications for the Niger Delta,” the
Senior Advisor of Lekoil, Kehinde
Ladipo, said the industry required technology transformation because
changes in the growth of the sector have been overlooked.
According
to him, there has been an exponential increase in data volumes such that legacy
data of models, which require up to date data management technology to be
maintained.
Ladipo
explained that despite the challenges in the Niger Delta region, the area is
still being identified to have huge potential oil reserves of about 35 billion
barrels, but cannot be realised optimally if measures like technological
applications and integrated interpretation, knowledge management, artificial
intelligence and discipline are not adopted.
“The challenge of finding more oil and gas is multi-dimensional, and
it requires new ways of thinking, and new strategies in terms of the way we
work,”
Ladipo maintained.
He
further observed that the Department of
Petroleum Resources (DPR) should change or review its policies because they
are archaic in the modern world of exploration.
The
NAPE President, Andrew Ejayeriese,
reiterated that some aspects of the Petroleum Acts, and guidelines in the oil
and gas sector have been there for so many years, and need to be revived to
more contemporary ones. “They have served their purpose
and have attained their usefulness,” he added.
Ejayeriese
said technological intelligence wasn’t available in those days, and more so the
ways of doing business have changed, and with new discoveries all over the
world. “We cannot continue to use those rules; they
just need to be revised to make them more in line with what modern day oil and
gas business needs to be,” he added.
The
NAPE boss remarked that there are lots of opportunities in the Niger Delta to
be explored, but how to access it in a manner that would be competitive with
other areas of the world is the challenge.
According
to him, like everything else they are in business to make money, so if they
cannot achieve that cheaply in order to break even and make some profit, it
becomes a bit more challenging, even to the government. (Guardian)
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