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Digital Transformation in Oil & Gas—How to Choose the Right Partners?

Section: Advertorial, Paid Post · July 21, 2020 · No comments |

PAID POST

Low oil prices, combined with the COVID-19 pandemic, are putting pressure on oil and gas companies to reduce operational costs through efficiency and optimization. There is only a limited number of ways to achieve this — by downsizing, reducing production, or implementing digital transformation. While a quick fix, downsizing and production reduction are not sustainable solutions. As such, more and more oil and gas companies are looking at the strategic advantages of digital transformation, driven by cloud computing, Internet of Things (IoT), big data, and Artificial Intelligence (AI).

Digitization: A Must for the Oil and Gas Industry

According to Accenture Technology Vision 2019, of the 168 oil and gas executives surveyed, 85% from upstream and 90% from downstream companies said that they were currently implementing one or more of the following technologies: Distributed Ledger Technology, AI, Extended Reality, and Quantum Computing (DARQ).

In recent years, most large oil and gas companies have increased investment in digital transformation. Internationally, large multinationals have launched their own digital and intelligent oilfield construction plans, such as the Digital Oilfield by ExxonMobil, Integrated Development by ConocoPhillips, Smart-Field by Royal Dutch Shell, I-Field by Chevron, and E-Field by BP.

Chinese enterprises have also been actively implementing new digital strategies in the industry. China National Petroleum Corporation (CNPC) has built an exploration and production cloud platform, as well as over 50 digital management systems, including exploration and development, refinery and chemical engineering, and service support, among others. Sinopec has set up three digital platforms for operation management, production operation, as well as information infrastructure and O&M. In addition, it has built several technology-driven solutions, such as ProMACE, smart factory, Chememall, and Epec. At the same time, China National Offshore Oil Corporation (CNOOC) is developing on-going plans for intelligent oilfields. It has successfully built unmanned platforms, and has piloted multiple projects on intelligent exploration, oil production, asset management, and drilling and completion.

Oil and gas companies are rapidly investing in digital and intelligent projects to improve exploration and development efficiency and reduce production costs. Ultimately, the industry looks to seize the opportunities that digital transformation has to offer.

A Difficult Road to Digital Transformation

Each upstream enterprise progresses at a different pace during digital transformation. Various companies in the oil and gas industry have achieved different levels of development in data monitoring and collection, device networking, data analysis, and predictive maintenance; the industry overall has had some success in these domains. However, the further the industry transforms digitally, the more challenges it faces.

Zhang Tiegang, former Deputy Chief Engineer of Daqing Oilfield Exploration and Development Research Institute, introduced the three key pain points in the digital transformation of the oil and gas industry at the Huawei Oil and Gas Virtual Summit 2020 held on July 15.

Massive Data Growth

Compared with other industries, oil and gas manages an even larger amount of data. For example, the amount of seismic data is increasing at an unprecedented speed. As oil and gas exploration becomes more difficult, the process requires more precise seismic wave exploration techniques. Broadband, wide-azimuth, and high-density (BWH) seismic data collection is particularly important, amounting to nearly 1 TB/km². The exploration area is constantly expanding and the originally collected high-resolution seismic data in just a single work area may amount to over 17 TB. In addition, the continuous increase in historical data records further speeds up data growth.

Increased Computation Workload and Complexity

The ever-increasing data volume leads to a sharp increase in the computation workload. For example, the computation workload of pre-stack reverse time migration (RTM) and storage volume are 10 and 50 times higher than before, respectively. To ensure comprehensive and accurate understanding of oilfield production dynamics, the computation requirements of large-scale reservoir numerical simulation also increase significantly. Therefore, oilfield companies have increasingly high requirements on data processing technologies. More and more complex algorithms — such as anisotropic pre-stack depth imaging, RTM, and full waveform inversion (FWI) — also pose higher requirements on computational capabilities.

Weak Information Infrastructure

Equipment rooms, computing, storage, and IT O&M constitute the information infrastructure system of oil and gas enterprises. Most companies used to build their own, resulting in many equipment rooms with high energy consumption and low security. At the same time, low server configuration and utilization are no longer able to meet the requirements of massive data processing. In addition, the existing shared storage devices come from different providers and feature low capacity, unable to store massive data. Moreover, O&M departments face increasing pressure to hire highly skilled personnel to ensure the O&M of independent and scattered IT with a poor intelligence level.

Partnership Can Help Oil & Gas Streamline Digital Transformation — Who Will the Partners Be?

The digital transformation of oil and gas enterprises is a huge systematic undertaking. Therefore, technical support from IT companies is indispensable.

Partnership Between Oil and Gas Enterprises and IT Companies (Some Cases)

Every large oil company has chosen to form partnerships for digital transformation. In this case, IT companies provide oil and gas enterprises with comprehensive digital solutions by using advanced technologies such as AI, big data, and cloud computing.

Take the partnership between Huawei and Daqing Oilfield Company as an example. Cloudification is key for digital transformation. However, data, computing, and facilities present serious challenges. To address these, Daqing Oilfield Company cooperated with Huawei to build a cloud data center, achieving an elastic supply of IT resources. The computing power of the data center now reaches 1,000 trillion FLOPS — a 300% increase in efficiency. Thanks to the elastic supply of computing and storage resources, the acquisition period has been reduced from three days to three hours. At the same time, servers with super computing power and the cloud-based deployment environment optimize data processing by 3 to 10 times. To achieve this, production data is transmitted to the cloud center through the high-speed dedicated network for processing. The calculation results are automatically sent back to the data center for archiving and management, ensuring the security of the core oilfield data.

In addition, Huawei has developed multiple technical service capabilities for oilfield digitization by using technologies such as AI, big data, and 5G. By deploying HUAWEI CLOUD, SONATRACH (Algeria) has successfully transitioned to cloud-based IT by deploying a company-wide ERP system. With AI, big data, and industrial IoT technologies, Huawei has built a fault prediction model for predictive maintenance of pumping units. Huawei has also built the largest industrial 5G oilfield lab in Europe’s biggest oil refinery, as well as implemented future-oriented services such as inspection robots, wireless sensors, “connected” employees, and predictive maintenance. Recently, Shengli Oilfield and Huawei recently signed a strategic cooperation agreement to build a cloud platform and 5G-based intelligent oilfields.

Efficiency and cost are the competitiveness indicators of the oil and gas industry. As a leading global ICT solutions provider, Huawei is continuously working with oil and gas partners to reduce costs, increase efficiency, and achieve digital transformation.

Improved efficiency

In line with the strategy of increasing reserves and production, how to maximize value from historical exploration and development data has become a new requirement of CNPC. Together with partners, Huawei planned and built a computing AI platform for CNPC, to implement AI training and big data analytics. The customer has now applied AI in multiple ways, such as artificial lift fault diagnosis and seismic first arrival wave identification. The value of underused historical exploration and production data has been fully explored.

Reduced cost

Huawei built a local, dedicated cloud for Daqing Oilfield, to provide oil and gas exploration computing. This in turn helped Daqing to optimize its costs and shift high-performance exploration and development computing services from CAPEX to OPEX. By reusing ten PB of historical exploration data, the cloud helped improve computing power by 833 percent, and increase the annually processed area from 400 square kilometers to 2000 square kilometers.

Strong partnerships are essential in the oil and gas industry, regardless of the digital transformation strategies a company may adopt. Alone, digital transformation is difficult, due to its complex technical requirements. The key for success is to build strong and strategic partnerships with industry leaders, ensuring a clear scope of cooperation. In this period of digital transformation, it is critical for oil and gas enterprises to choose their partners wisely — it will define the industry trends, but more importantly, it will determine who will become the new industry leaders.

Welltec: Embedding Automated Processes in Manufacturing

Section: Advertorial, Paid Post, Technology · July 8, 2020 · No comments |

PAID POST

The Welltec Annular Barrier WAB®, a flexible, high performance production parker, is one of the results of a 26year long series of innovations which began with the Well Tractor® , the conveying device that launched Welltec in place as a top draw subsurface solutions service provider.

The company’s Development and Engineering (D&E) department is responsible for bringing new ideas to life and transforming innovation into reality. It is this ability to think differently and then do differently that forms the foundations on which Welltec is built. The company manufactures her products in-house, embedding automated processes to proffer completions and interventions solutions.

The main Manufacturing sites are based in Denmark with Intervention services produced in Allerød, a small community just north of Copenhagen, and Completion products made in Esbjerg, the Danish oilfield hub.

Below are pictures from a recent tour to the company’s facilities at Allerød and Esbjerg.

Advertiser’s Announcement: OILSERV Ltd Commences Massive AKK Pipeline Project

Section: Advertorial, Paid Post · June 8, 2020 · 12 comments |

Nigeria is finally on the verge of unlocking huge economic benefits arising from its natural gas endowment. For many years, the country had been hindered by absence of gas transmission pipelines in her bid to harness its abundant gas reserves for provision of gas to generate electricity, and stimulate rapid industrialization using gas as feedstock for fertilisers, ammonia and other petrochemical applications.

The commencement of the NNPC-sponsored Ajaokuta–Kaduna–Kano (AKK) Gas Pipeline project by leading indigenous EPC giant – OILSERV Limited is the cause for this renewed optimism. OILSERV has been awarded the engineering, procurement, construction, installation, testing, and commissioning of the first segment of the 614 km x 40-Inch Gas pipeline, which is from Ajaokuta to mid-way between Abuja and Kaduna. The second segment has been awarded to another company.

Information available to us shows that OILSERV has achieved significant progress in a short spate of time including ongoing detailed engineering design, topographical and geotechnical surveys, haulage and stacking of line pipes in preparation to commence construction activities.

In the words of the Group Managing Director of NNPC; Melle Kolo Kyari “the AKK project is key to resolving the power deficit challenge of the country. Its multiplier effect on the economy and provisions of jobs will be unprecedented. NNPC will give all necessary support to the Contractors to enable them deliver the project within time and within budget”.

Chairman of OILSERV Ltd, Engr. Emeka Okwuosa, gave a pledge that OILSERV will leave no stone unturned to partner with NNPC and make the dreams of 200million Nigerians come true by delivering the AKK project to global quality and standards. In his words, “The capability of OILSERV has been honed in the course of successful delivery of landmark EPC contracts such as lot B of the 48inch OB3 gas pipeline system that is currently being commissioned”.

The optimism and hope that this development represents is a clear elixir that is surely needed by the entire nation at this time. We wish OILSERV, NNPC and everyone else involved in this endeavor, success.

Nigeria Oil and Gas Opportunity Fair NOGOF 2019

Section: Advertorial, Blog, Events · March 22, 2019 · No comments |

This year’s fair is themed ‘Maximizing Investments in The Oil and Gas Industry for the benefit of the Nigerian People’ as the objective of this Biennial Fair is to bring together major players across the Upstream, Midstream and Downstream sectors as well as the Government Agencies and Industry Regulators, to showcase Opportunities in the Nigerian Oil and Gas industry and present available in-country capacity.

With over 20 Project Opportunity Presentations by Chevron Nigeria Ltd, ExxonMobil Nigeria, Greenville LNG, Nigeria Agip Oil Company, Pinnacle Oil & Gas, Shell Petroleum Development Company, Total E&P Nigeria and many more Upstream, Midstream and Downstream Oil and Gas companies, this event is a must attend for you and your organization.

The fair’s agenda includes technical and opportunity sessions from various stakeholders. All delegates will be given a copy of the Compendium of Nigerian Content Opportunities in the Oil and Gas Industry 2019, it will be provided free of charge by Nigerian Content Development and Monitoring Board (NCDMB) to guide the strategy of investors in the Nigerian oil and gas industry.

Potential benefits of NOGOF 2019 is also aligned to the key thrusts of the NOGICD Act 2010 which includes Integrating oil producing communities into the oil and gas value chain, fostering institutional collaboration, maximizing participation of Nigerians in oil and gas activities, linking oil and gas sector to other sectors of the economy, maximizing utilization of Nigerian resources i.e. goods, services and assets and attracting investments to the Nigerian oil and gas sector (service providers, equipment suppliers etc).

This year’s fair will be holding in Yenagoa, Bayelsa, on the premises of our new NCDMB headquarters, from the 4th – 5th April

To avoid missing out on one of Nigeria’s most significant, relevant and beneficial Oil and Gas industry events, please visit www.nogofncdmb.com immediately to register.

This event is hosted by NCDMB and organized by Jake Riley Ltd. Please visit our website for more information on the event. www.nogofncdmb.com

Drilling Contractors Hold Their Seventh Summit

Section: Advertorial, Paid Post · December 14, 2018 · No comments |

The International Association of Drilling Contractors (IADC) Nigeria Chapter has held its 7^th Annual General Meeting (AGM) in Lagos.

Ote Enaibe, current Chairman of the group, listed the activities of the outgoing year, which included Technical Sessions, Government and Regulatory Events, HSE AWARDS Ceremony, 2018 IADC Conference participation and five (5) new members joining the body.

L-R, Chuks Enwereji, Marvelyn Ehika, Juliet Adesunloye and Ote Enaibe, IADC NIGERIA CHAPTER Exco

Vice-Chairman Chuks Enwereji reviewed the year’s overall Health Safety and Environment performance, which is the most crucial set of metrics in the drilling industry.

In spite of its importance, members’ participation in the HSE review is low. For three years running, 2016-2018, only seven out of the 25 corporate members have participated in the HSE Review. The Vice Chairman pleaded for increased member participation. Drilling activities man-hours done in Africa accounts for the third highest amount in the world-wide drilling space. Conversely the continent accounts for the second highest amount of fatalities. Nigeria is a major African player. Reducing Total Recordable Incidence Rate (TRIR) is an IADC targeted mandate. Cardinal Drilling won the HSE Award for 2018. The next HSE Award ceremony holds Q2 2019.

Enwereji applauded members for supporting the Biennial Conference of the Department of Petroleum Resources (DPR). He promoted the 2020 IADC African Drilling Conference, which though championed by Host Chapter Nigeria, will be held in Ghana based upon the cloud of perceived security challenges bedevilling the country.

IADC NIGERIA CHAPTER 2018 AGM Attendees present.

IADC NIGERIA CHAPTER HSE AWARD Objectives

The 2018 IADC Nigeria Chapter Financial Report was presented by Marvelyn Ehika, who was officially confirmed as the new Treasurer of the association at the meeting. Her findings show the association’s 2017 budget was operated with a deficit of 4.5% amounting to a million naira shortfall. At year end 2017, only eight (8) members had fully paid up their association dues. A fall-out of the slump in hydrocarbon business activities occasioned by low oil prices. The 50% drop in subvention fees from membership dues had largely been covered by savings of 2013 bumper harvest. The Draft Budget for 2019 totalling up to Eighteen Million One hundred and Ninety Thousand naira only (N18,190,000.00) was presented by Chairman Enaibe. It is expected to cover the year-long activities of two Technical Sessions- Business Outlook in Q1, HSE Awards Event and Technical Session in Q2.Q3 involves organising training for the Chapter’s field personnel alongside Government and Regulatory Events and Q4 wraps up with the AGM. The draft budget also covers International travels for IADC Conferences, The Secretariat, General Administration and Auditors fees.

Representatives of IADC NIGERIA CHAPTER Member companies in attendance

Olusola Ismail, Secretary of Board Of Trustees (BOT) IADC NIGERIA CHAPTER questioned the rationale of holding the Nigeria Chapter-hosted African Drilling Conference in Ghana, factoring costs, logistics and practicalities rather than Nigeria. Hisham Zebian, Regional Representative IADC Body for Europe, Middle East and Africa whilst agreeing that perceived misinformation about Nigeria contributed to the decision, highlighted cumbersome visa application process by interested attendees from other IADC Chapters as a contributory reason. Ben Agadagba, Member Board Of Trustee IADC NIGERIA chipped in the need for increased participation by heads of drilling companies. Uche of SeaDrill pressed for increased involvement of the IADC NIGERIA CHAPTER in hydrocarbon industry policy drafting process.

Other pertinent issues being tackled by the association include the DPR’s newly-introduced $650 per-rig operative-per annum Offshore Safety Passport (OSP) for offshore rig operations, the combination of PLI, Annual Condition Survey and the fuel storage on rig operations all bundled into one Annual Condition Survey. Weeding out Portfolio drilling contractors and regularising registration procedure(s). Technical sessions for field operatives in oil cities of Port-Harcourt, Uyo etc. Sponsorship, increasing members and Associate Members lists from IOCs, NOCs and Service Companies. Forthcoming change of address by January 2019.

Petrolex Opens Tank Farm, Planned to Be Africa’s Largest

Section: Advertorial · December 11, 2017 · 1 comment |

By Paul Kelechi

Petrolex Oil & Gas Limited, is set to launch what it calls a Mega Oil City in Ibefun, Ogun State, in the north of Lagos, Nigeria’s commercial hub.
The company says it is part of a plan to revolutionise the Nigerian oil and gas landscape.

It has invited Yemi Osinbajo, the Vice President, to launch the facility, the heart of which is reportedly a 300 million-litre capacity tank farm with the capacity to turnover 600Million litres of petroleum products every month.

“The facility is expected to improve the average Nigerian throughput capacity for distribution of petroleum products by over 500%”, the company says. Petrolex argues its project will decongest the tanker traffic in Apapa (the Port suburb of Lagos) and Ibafo (in the hinterland) by 60%, thereby eliminating hazards associated with storage and transportation of petroleum products in those areas. “To facilitate the achievement of its strategic goals, Petrolex has 16 barges, 8 tugboats and a 30KT vessel”, the company claims, adding, “the Petrolex Mega Oil City has a residential quarters, army barracks, 30 loading gantries and a 4000-truck capacity park with accommodation for drivers”.

The company reports that the tank farm is highly accessible through land and waterways; with easy access from the Atlantic Ocean. But how is that?
Petrolex’s CEO Segun Adebutu says the company consulted the vast midstream experience in the Netherlands “where They have narrow channels that are shallow but they are still able and capable to move their products up and down. They came in and did a survey and then built special barges that when fully laden, require just 1.8m draft to be able to operate. We spent close to $50Million building that fleet”, he claims. “What it essentially means is that, from our SBM (Single Bouy Mooring) point, we can bring in cargo into the channel and pump it into our tanks; which means we don’t need to dredge. That doesn’t mean to say some dredging hasn’t been done because space has to be created at the turn-around area and at the elbow coming into the River Aye.

“The River Aye empties into the Lekki channel which then empties into the lagoon and then into the Atlantic. So there is a way of bringing in, to a certain point, big vessels that will be anchored. Because they are too big to come in here, our barges will have to meet them half way and transship the cargo and bring it to site. In the long run, because we are going to be handling much more products from the refinery, we have finished doing the Front End Engineering Design to build using the micro-tunneling technology, a 32km pipeline that will go all the way past the fairway buoy and exit at an export platform. What that means is that, unlike an SBM, it can take up to 3 Super Maxis. Super Maxis are vessels that can take up to 200,000 tons of petroleum product, crude or whatever. They can berth there and we can pump as much as 200Million liters a day via the pipeline into the facility.

The reason we require that kind of volume is that that kind of pipeline is not just going to pump in or out only clean products; we are going to have a gas pipeline in it and also a pipeline that will handle crude.

Petrolex says it has a vessel that can take 30,000 tons of product, 16 barges that can carry clean products that can be propelled by push-out tugs.
This is essentially why it can say it has “proximity to the Lagos market, and easy accessibility to the Northern and Eastern parts of Nigeria, gives it a strategic advantage, as customers can load their products in unprecedented time and avoid delays which characterise the industry”.

In Ghana, Rigworld Fills the Training Gap

Section: Advertorial · November 17, 2017 · No comments |

The Rigworld Training Centre in Takoradi, the main city in Ghana’s oil rich western region, is a significant contribution to the country’s oil and gas industry, in the words of its promoters.

Inaugurated on November 15, 2017, the centre, valued at $8.5Million, “is equipped with advanced simulators, helipad, water survival training pool, medical center, prime onsite accommodation, restaurant and fitness centre”, says Elizabeth Hayes, a spokesperson for the facility.

“Top international training experts with operational excellence have been selected by the centre to lead the training programmes that will be offered”, Ms. Hayes recommends.

She lists some of the programmes as follows:

• Survival Training (Offshore)
• Rope Access Training
• Well Control/Intervention Training
• Drilling Well Control Programme
• Lifting Competence Training
• Banksman and Slinging
• Rigging and Lifting
• Crane Operator Training
• NDT Training
• HSE Training
• IOSH Managing Safely
• IOSH Working Safely
• *Nebosh IGC
• *Nebosh Oil and Gas Technical Certificate
• Manual Handling
• Work At Height
• Rescue At Height
• Confined Space Entry and Rescue
• Safety Consultancy
• BFPA Hose Assembly Training

WAIPEC Aims to Set Industry Conference Standard

Section: Advertorial · November 17, 2017 · No comments |

By Paul Kelechi

The second edition of the West Africa International Petroleum Exhibition and Conference, WAIPEC, is poised to set strategic standards on content, programs, quality of the delegates and communiques from conferences in the African oil and gas industry. Strategically positioned to be the first conference and exhibition for the year 2018, Bank-Anthony Okorafor, chairman of the Petroleum Technology Engineers Association of Nigeria told the Africa Oil+Gas Report in an exclusive interview that “WAIPEC 2018 will be a pace setter and pathfinder for the oil and gas sector for the rest of the year”. PETAN is the conference host while Global Events Partners are the organizers.

Over 2,000 delegates attended the maiden edition of the conference in 2017 and so far, more than 50% of the conference booths have already been taken. GEP is working assiduously to ensure that at least two ministers from other west African countries are in attendance at the 2018 edition of the conference. The goal is to diversify the industry people-experience-mix to be all encompassing. Bringing together experts from the upstream, midstream and downstream sectors will stimulate discussions when everyone is under one roof and is one of the best ways of sharing knowledge and best practices in the industry. “People share ideas on the best ways to do things technically, commercially and even discourse the risks involved” Bank-Anthony tell us as the interview went on.

The event organizers say WAIPEC is designed to be a solutions conference; that is the mindset behind what makes it different from other conferences before it. With board members of Gazprom, Google EMA and others indicting interest to be part of the 2018 event as speakers, WAIPEC is set to be a game changer. “One of them was the chairman of the Fourth Industrial Revolution at the World Economic Forum and he is asking to be the keynote speaker,” Bank-Anthony informs.

The technical sessions are going to have such topics as E&P Geoscience, Oil & Gas Unconventional Field Development, Drilling and Completion, Gas Processing Technology and Operations, Offshore Technology and Operations, Operational Excellence, Maintenance and HSE, Downstream Refining and Petrochemicals, Fertilizer Technology and Operations, Power Generation Technology and Operations discussed at the conference. Upstream Regulatory and Physical Frameworks, Upcoming Onshore and Offshore Licensing Rounds in West Africa are also some key topics that will be talked about during the strategic sessions.

Two key players in the Nigerian oil and gas industry that delegates will like to see at the event are the Minister for State Petroleum, Dr. Ibe Kachukwu and the Group Managing Director of the NNPC, Mr. Maikanti Baru. The technical elite of the E&P sector of the Nigerian oil industry see Ibe Kachukwu as a visionary in charge of policies; he also has fresh industry ideas while Baru is seen as a “great administrator who has so much love for the industry”.

A combination of Kachukwu and Baru will result in excellence as both will bring deep operational excellence and knowledge of the NNPC to WAIPEC. When asked if they will be at the conference, Bank-Anthony simply said: “I intend to bring both of them because I think both of them have a lot of value that they can bring to the table”.

PetroData Pushes Cloud Data Storage

Section: Advertorial · March 28, 2017 · No comments |

By Akpelu Paul Kelechi, in Lagos

From inception, PetroData Management Services has catered primarily to the data management needs of the oil majors operating in Nigeria. “It took several years for PetroData to persuade these to start trusting their data to our storage site at Ikeja, (in the north of Lagos, the country’s financial hub)”, Taukeme Koroye, member of PetroData’s board told a group of industry experts at the recent ISMS ISO 27001:2013 award ceremony presented to the company. “But it happened after several years of work and exposing our environment to them. “We are trusted by 95% of the oil and gas industry in Nigeria on data management”, he claimed.

Data management is moving away from physical storage environments to shared service platforms that are beyond our physical reach. “We have been investing in e-business for the past 4 years to basically provide data management services to clients that don’t have to have it physically hosted in the environment either because the CAPEX justification will be difficult for them or because on a Stand Alone basis, their requirement will not warrant that level of investment”. Rather than companies buying individual IT capabilities such as infrastructure, platform, software, support and so on that will drive up cost, they could buy these capabilities from one source and enjoy availability, reliability, high value addition at a reduced cost on a shared platform.

“We want to encourage our clients, financial institutions, SMEs, government agencies amongst others to start moving over to this platform that we have so that rather than CAPEX, they start working on OPEX, rather than individual capabilities that will be built into these areas, they buy capabilities from one source and enjoy it” Koroye urges.

Depending on where you go from that migration path, from infrastructure as a service through platform to software, there will be different degree of the CAPEX-OPEX mix. The end point is when you are at software as a service that you can be said to be entirely on OPEX. Effective cost reduction during IT migration largely depends on your appetite for either one big move or stage by stage move. Overall, 70% of IT executives believe that moving to cloud technologies certainly delivers efficiency over their managing themselves individually because this certainly delivers cost efficiency. Empirical evidence shows that operating cost in relation to resilience requirement will be a loss of 15%.

“PetroData has been operating to world-class standards in data management since 1995 and the award of the ISMS ISO 27001:2013 certification really confirms what we have been doing as a business proposition through all these years. If you went into a shared service platform that has a scale and capacity that you need rather than stand alone, your benefits will accrue at cost per unit of whatever your measure is. This will be lower investment cost, more efficiency, easily operative and you will get into it without the necessity of initial investment cost. We also have the best partnerships in all of the offices that are built, whether at application level or at infrastructure level; we have always partnered with best in class providers so that in line with world class standards, we are delivering value to clients consistently”, Koroye emphasized.

Only about five companies in Nigeria has attained the award of the Information Security Management System (27001:2013) certification by the International Standards Organization and PetroData is one of them.

“I’d like to say that this is an amazing achievement and there are not many organizations out there who can achieve this kind of certification”, Director for International Trade at the office of the British High Commissioner to Nigeria, said as he presented the certificate to Wole Shebioba, Managing Director of PetroData Management Services. “It’s a prestigious award and what it means is that it put you guys at the top; which mean you are one of the best companies out there”.
Babajide Soyode, chairman of PetroData added: “PetroData is now in the league of such entities as the World Bank, IMF, CBN who have achieved this prestigious award’.