![]() He added that digitisation will bring benefits like improved efficiency, cost reduction, improved quality management, transparency in decision making and so on. “So today, digitization is no longer an option but a fundamental requirement for companies to go leaner and to remain competitive particularly in this era of energy transition,” Aiteo’s GMD said. ![]() ![]() He explained that these digital tools are accelerating opportunities for value creation and value capture through enterprise integration, communication across multiple social media, remote monitoring, task automation, all to enhance operational efficiency, integrity, and process safety. Read Also: $500m financing available to capture flared gas but not many takers In his opinion, the lockdown has demonstrated that, with increasing speed and capacity in connectivity (like 5G), digital tools are no longer just enabling communication. “Digitisation and Big Data have also become key tools for success in the industry and will gain even more prominence in a post COVID era,” Okoronkwo said. With the price volatility, geopolitical tussle between Russia and Saudi Arabia experienced during the first wave of global covid lockdown, financial leadership and liquidity risk management will remain major areas of focus for upstream oil and gas companies.” He stated, “This phenomenon has accelerated new paradigms in portfolio optimisation and supply chain balance in the industry.
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