1 With Africa pursuing the exploitation of its hydrocarbon reserves to address growing energy poverty and fuel industrialization, artificial intelligence (AI) and analytics technologies present a tremendous opportunity for the continent to accelerate the development of oil and gas resources.
3 As such, the continent’s premier event for the oil and gas sector, the African Energy Week (AEW) (www.AECWeek.com), taking place from 18-21 October 2022 in Cape Town, will host high-level discussion panels.
4 and meetings to discuss the critical role AI and analytics play in improving the production, storage, transportation and exploitation of hydrocarbons to make energy poverty history across the African continent by 2030.
5 While Africa has had massive oil and gas discoveries in recent years, including the Greater Tortue Ahmeyim off the coast of Senegal and Mauritania, Luiperd and Brulpadda in South Africa, and the Rovuma Basin discoveries off the coast of Mozambique, among others: the development it has been slow due in large part to restricted investment, the impacts of COVID-19, and a lack of modern digital solutions.
6 With more than 600 million living without access to electricity in Africa, Africa’s accelerated oil and gas development is key to making energy poverty history.
7 Now, with the rise of AI and analytics in the oil and gas sector, an opportunity has arisen for Africa to drive modern and sustainable energy growth for years to come.
8 With oil and gas production in Africa declining due to the natural decline of legacy projects, increasing the use of AI and analytics in the upstream segment could help streamline drilling activities, revitalize the sector and expand oil reserves.
9 mainland hydrocarbons for energy reliability, saving project developers, operators and owners time and resources.
10 Furthermore, as African hydrocarbon-producing countries such as Nigeria lose billions in revenue due to theft and vandalism of infrastructure, a condition that holds back the expansion of Africa’s oil and gas sector, intelligence tools Artificial intelligence and analytics can help optimize industry growth by improving infrastructure maintenance and safety across the oil and gas value chain, helping to reduce energy and revenue loss and, in the process, stimulates investment in the entire oil and gas sector.
11 Furthermore, despite the fact that Africa accounts for less than 3% of all carbon emissions, policies related to the global energy transition are hindering the deployment of the necessary investments to boost the continent’s hydrocarbon sector.
12 However, by applying artificial intelligence and analytics, African hydrocarbon-producing countries and companies have an opportunity to track carbon footprints and improve energy and environmental sustainability while maximizing oil and gas production, and in the process , attract the investments needed to boost energy production and drive economic growth.
13 Finally, with spending on 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 in 2025 as companies streamline processes trade, Africa’s hydrocarbon industry is well positioned to drive socio-economic transformation.
14 through job creation and the establishment of a modern, next-generation workforce in energy.
15 “The digital transformation of African oil and gas operations is key for Africa to achieve its energy access and sustainability goals.
16 By accelerating the adoption of AI and analytics tools, Africa’s oil and gas sector will help create demand for digital tools, putting Africa at the forefront of the digital revolution by fostering technological development and job creation and in the process, boosting socio-economic growth,” said NJ Ayuk, the chief executive of the African Energy Chamber (AEC), adding that, “Representing the continent’s official meeting place for energy stakeholders, AEW 2022 will be the place to promote new technologies, invest in current and future energy projects, and drive developments that will make energy poverty history in Africa by 2030.” The ACS, as the voice of the African energy sector, believes that the application of AI and analytics in the African oil and gas industry is critical to addressing the barriers to growth in the industry.
17 Accordingly, AEW 2022 will host one-on-one interviews and panel discussions with oil and gas and technology industry leaders to explore the role of digitalization in Africa’s oil and gas sector.