… States how Petrosoft solutions make oil&Gas sector profitable

By Prince Osuagwu

The Chief Executive Officer of Petrosoft Limited, Chief Joshua Denila is a System Engineer, serial investor and entrepreneur with competence in Internet of things, IoT, Machine to machine, telecommunication, advanced software and hardware engineering technology.

With his experience in managing the day to day activities of a fleet of companies ranging from telecom to oil and gas sectors, Denila has created for himself, a reputation of making informed commentaries on important issues in both technology and the oil and gas industries. In fact, he describes himself as a go-between the tech and oil sector.

In this interview, he made an emphatic declaration that the oil and gas sector will hardly make headway without embracing modern technology.

 Excerpts;

You are a player in the oil and gas industry; can you say why technology has taken over the mainstay of the economy, in terms of contribution to GDP?

The purpose of business is to bring maximum value to shareholders and employees of the organization. Technology helps businesses drive down cost and increase profitability and this applies to every sphere of business.

The growth of technology has significantly reduced the growing number of unemployment in Nigeria. The ICT sector is one of the largest employers of labour in the country and is directly responsible for creating millions of jobs.

According to the 2021 full-year GDP report released by the National Bureau of Statistics (NBS), the sector contributed 16.51 percent to the overall GDP in 2022.

On a year-on-year basis, the sector growth rate increased by 10.72 percent in 2022, higher than the 7.28 reported in 2021

Technology is an enabler for every sector and so will continue to dominate globally in GDP Contribution not only in Nigeria.

Many experts have said that the oil and gas sector can embrace the tech sector for a stronger collaboration, do you see this happening?

It’s inevitable. For any player in the Oil&Gas industry to make headway he or she must embrace modern technology. Most profitable oil and gas companies are those that have recognized the role of technology in business efficiency and increased profitability. For those who see investment in modern technology as additional burden, on the company, I think they have missed it. There must be positive result for every kobo invested in technology. However, this can only happen if you go with the right company like ours that are go-betweens technology and the oil sector. We ensure technology is clearly visible in their bottom line.

You said your company is a go- between the tech and oil &gas sectors. How do you mean?

Petrosoft is a technology enabler for the oil and gas sector. Over the years we have supported the upstream oil and gas players with home grown customized solutions for production management, contractor and employee management, business process automation systems and remote monitoring capabilities.

Petrosoft dominates the downstream oil and gas sector absolutely and you will find the most profitable petroleum distribution companies in the Nigerian downstream sector using our solutions for their oil and gas terminal operations management, head office operations and day to day management of hundreds of retail filling stations as well as LPG retail outlets in the nook and crannies of Nigeria.

Are there software products you have that can help the oil and gas sector improve offerings?

Like I mentioned earlier Petrosoft Limited is an oil and gas software and hardware development company based in Nigeria. Our goal is to help industry operators increase profitability and reduce operational cost using intelligent IoT technology solutions. All our solutions are built locally to the meet the requirement of the Nigerian business environment. Every solution we develop is built in a zero emission environment.

For the upstream and midstream sectors, we are focused on provision of customized software for business process automation and remote monitoring such as well head monitoring, remote video surveillance and pipeline monitoring.

 For the downstream we offer the best suite of cloud-based intelligent software solutions available in the market today and it includes: Head Office, a downstream Petroleum Distribution & Transport Management System: handles all areas of head office

financial accounting, Products distribution, wet stock management, PEF, Subsidy, Transport/Driver Management, HR, Asset Management, mobile Appfor Depot Rep.

Station Manager: – handles all LPG & Fuel station financial accounting, inventory management, HR, Asset Management, Retail Sales, Bulk sales, for LPG and Fuel Station retail operations.

Oil Depot/Terminal Manager: This system covers all areas of LPG/Oil depot operations, Asset Management and Financial Accounting.

 Fillup – Corporate Fuel Spend Management System, which helps corporate organization manage their relationship with their fuel retailers to ensure that fuel expenses are transparent and brings mutual benefit to all partners.

At Petrosoft we have also designed a gamut of sensing technologies for domestic and commercial LPG cylinder and online tank monitoring, pipeline pressure and flow monitoring. We offer advanced industrial IoT and system integration services for oil and gas industry players to enable them achieve their desired goals for operational efficiency and profitability.

Your cloud-based solutions for the oil and gas industry sounds an interesting option, but people are afraid of data compromises cloud computing is capable of causing. What encryption guarantees can your solution provide?

Petrosoft cloud applications are hosted on Amazon Web Services (AWS) which offers industry leading encryption features to protect our client’s contents in transit and at rest, and also customers are given the option to manage their own encryption keys