African Energy Week being held in Cape Town South Africa between October 18-21st 2022 will be discussing the role that AI (Artificial Intelligence) and analytic technologies can play in enhancing the production, storage, transportation and exploitation of hydrocarbons to make energy poverty history across the African continent by 2030.
This comes at a time when Africa is pursuing the exploitation of its hydrocarbon reserves to address growing energy poverty and fuel industrialization, where artificial intelligence (AI) and analytics technologies present a massive opportunity for the continent to fast-track the development of oil and gas resources. As such, the continent’s
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, revitalize the sector and expand the continent’s hydrocarbons reserves for energy reliability, saving project developers, operators and owner’s time and resources.
Furthermore, with African hydrocarbon-producing countries such as Nigeria have been losing billions in revenue due to theft and vandalism of infrastructure. AI and analytics tools can help optimize industry growth by enhancing infrastructure maintenance and security across the entire oil and gas value chain, thereby helping reduce energy and revenue loss, and in the process stimulating investments across the oil and gas sector.
In addition African hydrocarbon-producing countries and companies have an opportunity to track carbon footprints and enhance energy and environmental sustainability while maximizing oil and gas production and in the process attract investments required to boost energy production and drive economic growth.
Spending in on automation within the oil and gas industry will increase by 7.5% from $17.17 billion in 2020 to $24.63 billion by 2025.
“The digital transformation of African oil and gas operations is key for Africa to achieve both its energy access and sustainability targets. By accelerating the adoption of AI and analytics tools, Africa’s oil and gas sector will help create demand for digital tools, placing Africa ahead of the digital revolution by encouraging technology development and job creation and in the process driving socioeconomic growth,” stated NJ Ayuk, the Executive Chairman 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 upcoming energy projects and drive the developments that will make energy poverty history in Africa by 2030.”
