Technology AI adoption will liberalise energy industry potential – Edozie

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Frank Edozie, managing director of Neconde Energy Limited says that the adoption of big data, artificial intelligence (AI), and mobile technology adoption will help liberalise the huge potential in the country’s energy industry.

Edozie who was speaking at the 2019 Conference and Exhibition of the Society of Petroleum Engineers (SPE) held recently said industry operator have failed to leverage the potential of AI and big data to reinforce the perception that Nigeria is a gas province with profitable huge opportunities for growth.

He stated that his organisation has been able to surmount its various challenges by adopting an innovative business approach, which has positioned the firm to deliver quality services, according to a statement.

The managing director said utilizing big available data would change the country’s energy landscape as it would make players in the sector realize the need to liberalize the price of gas, create more value chain opportunities and make fuel subsidy unnecessary.

On his part, Mele Kyari, group managing director, the Nigeria National Petroleum Corporation, reinforced Edozie’s position, noting that technology plays an important role in driving the sector globally.

Kyari pledged to address the myriad challenges facing Nigeria’s oil and gas industry to achieve all the aspirations of the government and players.

Neconde is an independent Nigeria oil and gas company serving as a special purpose vehicle for the acquisition and development of petroleum assets. In January 2011, the company participated and emerged successful in the bid for the acquisition of 45percent stake in OML 42 previously held by Shell Petroleum Development Company Limited.

Neconde’s status as an indigenous company with an excellent management team offers a viable option through which the currently underdeveloped reserves of the Niger Delta could be brought into production with attendant economic benefits for the country.

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