Oil & Gas: AI, analytics key to developing African hydrocarbons ~
Africa has had massive oil and gas discoveries in recent years – including the Greater Tortue Ahmeyim offshore Senegal and Mauritania, the Luiperd and Brulpadda in South Africa and the Rovuma Basin discoveries offshore Mozambique, among others – but development has been slow owing largely to restricted investment, Covid-19 impacts and a lack of modern digital solutions.
With oil and gas production decreasing in Africa due to natural declines in legacy projects, increasing the use of AI and analytics across the upstream segment could help simplify drilling activities, revitalise the sector and expand the continent’s hydrocarbons reserves for energy reliability, saving project developers, operators and owners time and resources.
What’s more, despite Africa accounting for less than 3% of all carbon emissions, global energy transition related policies are hindering the deployment of investments necessary for boosting the continent’s hydrocarbons sector. Finally, with spending in digital solutions including AI and analytics within the global oil and gas sector set to increase by 7,5% from $17,7-billion in 2020 to $17,17-billion by 2025 as companies optimise business processes, Africa’s hydrocarbons industry is well positioned to drive socioeconomic transformation through job creation and the establishment of a modern and next-generation energy workforce.
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