Seplat Technology Summit 4.0: Industry Experts Discuss Future of Energy in Nigeria

Seplat Energy Plc, foremost indigenous energy company, has successfully concluded its Seplat Technology Summit 4.0, held on July 18-19, 2024, at EKO Hotel & Suites in Lagos.

This year’s summit, themed “Leveraging Technology across the Energy Value Chain to Unlock Transformational Potential,” attracted industry leaders, technology enthusiasts, students, and professionals from around the world to explore innovative solutions and advancements in the oil and gas sector.

The two-day event was packed with keynote presentations, technical sessions, panel discussions, and technology exhibitions, all focused on addressing the pressing challenges faced by the energy industry as attendees were introduced to cutting-edge technologies aimed at transforming upstream operations, renewable energy, and optimizing gas transportation networks.

“Seplat has become a leading Nigerian energy company, we have achieved this leading role by leveraging technology. For us, it is all about how we can be safer, cheaper, more efficient, and faster in our known space, and then how we can break new ground. We are all gathered here to find lasting solutions to our lingering problems in our industry because if we do that, our industry will grow and continue to win,” said Ezugworie.

Farouk Ahmed, Authority Chief Executive, Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA), represented by Steve Ayuba, Senior Technical Adviser, NMDPRA, also delivered a welcome address, highlighting the need for collaboration and innovation among industry players and regulatory authorities.

He praised Seplat Energy for enabling the implementation of critical sections of the PIA, setting a benchmark for the industry.

He said: “There are areas for different technology deployment for future growth. I think we looked at the hydrocarbon extraction process, which is in the long term going to be very dependent on technology. You know how we use seismic data for sub-surface, increasing reservoir management as well, in terms of being able to develop mature reservoirs, especially for independents like Seplat.

“We also use technology to help drive down crude theft, which is a unique issue in Nigeria. For us in Seplat, we really cannot achieve our purpose – which is to deliver sustainable energy solutions for society – without technology. So, our purpose is going to be achieved through technology.”

The summit featured two panel discussions.

The first-panel discussion which focused on “Unlocking Value Through Digitalization in Upstream Exploration and Production”, while the second panel discussion which focused on “Innovations in Renewable Energy Integration and Sustainable Development”.

In his address, Bala Wunti, Chief Upstream Investment Officer, NNPC Upstream Investment Management Services (NUIMS), emphasized the need for repurposing redundant and deteriorating infrastructure within the industry.

He said: “Can you imagine life without energy? It is impossible. The question now is – even though we don’t like emissions, and yet we need energy, how do we create a balance?”

Ibi-Ada Itotoi, the Managing Director of Seplat Eastern Assets also addressed the summit, stating, “The summit is about leveraging technology across the energy value chain to unlock transformational potential. Most of the oil majors are selling off their onshore assets to locals and independents like ourselves. These assets, many of which have been in use since Nigeria started producing oil in the 1950s, present unique challenges. By leveraging technology, we can maintain and operate these aging assets cost-efficiently. Using energy efficiency technologies, detection technologies, AI, and predictive technologies, we can ramp up production despite security threats. This symbiotic relationship with technology companies helps us all grow together.”

Stakeholders delivered technical presentations on various topics, including; Digital Oilfield Technologies: Transforming Upstream Operations by Halliburton, Innovative Solutions for Optimizing Gas Transportation Networks by NNPC Gas & Power Investment Services (NGPIS), Industry Perspectives on Digital Transformation and Future Outlook by Schlumberger, Accelerating the Transition to Low-Carbon Energy Systems by GIL Automations and Deploying Foresight and Innovation Management Frameworks by Dr. Rafael Popper.

Eleanor Adaralegbe, CFO of Seplat Energy Plc, represented by Valentine Agwu, General Manager of Supply Chain Management, concluded the summit by highlighting Seplat’s leadership in technology, local content development, and sustainability.

“The Summit has been enlightening and tells you who Seplat is becoming a company at the forefront of everything, be it acquiring other companies, technology, local content development, or sustainability. We are excited about what next year’s summit will bring,” Adaralegbe said.