By Solomon Asowata

Mr Gbenga Komolafe, Chief Executive, Nigerian Upstream Petroleum Regulatory Commission (NUPRC) says Nigeria can utilise mass data to meet its energy needs and increase its hydrocarbon reserves.

Komolafe spoke at a panel session on “Data to Barrel” at the ongoing 5th Nigeria International Energy Summit in Abuja.

He said: “ According to U.S. Energy Information Administration (EIA), Petroleum energy remains the largest source of energy, though its share of world marketed energy is in decline from 33 per cent in 2015 and projected at 31 per cent in 2040.

“With this huge opportunity, the key challenge is using mass data to meet Nigeria’s energy needs and increase proven reserves by ensuring that our oil and gas resources are not left behind in the subsurface without being beneficial in a timely manner for the Nation.

“No era lasts forever, so Nigeria must make haste to harness fossil fuel energy while its still relevant.”

Komolafe noted that the upstream industry was facing challenges that require the need for mass data in high-precision reservoir modelling and surveillance.

“Consequently, superb computing power, high-performance storage capacity, powerful and integrated mapping applications are required to be able to turn big data into barrels and value for money.

“Hence, the key challenge for service providers in producing oil companies is to demonstrate the value that gathering additional data will bring to the asset.

“So, it is not just about gathering more data, but equally about the Value of the Information (VOI) from the data gathered,” he said.

According to him, the development and use of Artificial Intelligence (AI), through generating new and robust mapping applications, requires big data and supercomputing technology.

He said this helps to decide investment in the right prospects, development of a robust Field Development Plan (FDP), drilling and completions in safe and cost-efficient operations, all in order to optimise production and meet daily deliverables.

“Big data only makes sense when it leads to safer operations, cost efficiency, and increased profit margins,” Komolafe noted.

He said the NUPRC has taken technological advancements into consideration in its work processes.

Komolafe said currently, the Technological Adaptation Unit within Engineering and Standards Department engages service providers on new technologies that could be implemented in the Nigerian Petroleum Industry.

” In addition, we have established more data related initiatives in the NDR such as National Improved Oil Recovery Centre (NIORC) focussed on utilizing big data to drive reduction in cost per barrel.

” Also, the Integrated Data Mining and Analytics Centre (IDMAC) was setup to assess and analyse data for informed business decisions,” he said. (NAN)