The Managing Director of Shell Nigeria Exploration and Production Company , Mr. Bayo Ojulari, has disclosed that by 2025, the global oil industry’s share of global digitalisation will be over $1 trillion.
He explained that by then, such tasks as predictive maintenance, remote monitoring and operations, frontline worker mobility, omnichannel retail, consumer energy choices, and digital customer services amongst others, would be executed through digitalisation which would be powered by artificial intelligence or Machine Learning .
According to Ojulari, market analysts have identified digital technologies as a significant safety and environment value contributor, and could with advanced analytics and process optimisation, result to three per cent reduction in accidents and injuries, 350 million tonnes reduction in carbon emissions, 65,000 barrels reduction in pipeline spills, as well as 800 million gallons reduction in water consumption.
He noted that while Nigeria was placed in the ‘break-out’ end of the 2017 digital evolution index map, it could leverage its benefits for its oil industry by ensuring that government, operators and service providers become early adopters of digital systems of operation, consider new business models, cultivate a clear corporate digital strategy beyond proof of concepts, promote culture of innovation and change, as well as engage and collaborate with others in the industry.
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