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Adequate technology will address poor forecast, risks in oil industry — Seplat

By Udeme Akpan

The Executive Director, Operations, at Seplat Petroleum Development Company Plc, Mr. Effiong Okon, has said the right adoption of contemporary technologies like Artificial Intelligence (AI), big data and mobile technology will not only drive planning and forecast in the Nigerian oil industry, but will help in addressing like 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 recently, with the theme: Artificial Intelligence, Big Data and Mobile Technology: Changing the Future of the Energy Industry.

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In his 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).

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