The adoption of digital solutions has proven to be a game-changer in various sectors across the country, and the oil and gas sector, being a vital pillar of Nigeria’s economy, is no exception – standing to gain substantial benefits from the adoption of these solutions.
Globally, oil and gas companies in the upstream and downstream sector are embracing digital solutions to reshape their operating landscape, connect supply chains, and improve efficiency and productivity. According to a 2020 report by the Nigeria Extractive Industries Transparency Initiative (NEITI), Nigeria earned an impressive $394.02 billion from the oil and gas sector between 2011 and 2020.
Despite the significant contribution of the sector to the Nigerian economy, the oil and gas sector in the country facesvarious challenges, such as legacy infrastructure and processes: The industry has in time past traditionally relied on physical infrastructure and manual processes, which can be difficult to integrate with digital technologies. Experts believe that the adoption of world-class digital transformation systems will help bridge these gaps in the sector, enabling the oil companies to thrive and compete more favorably on the global scene by optimising operations and asset performancewith advanced analytics. Ultimately, this is expected to improve profitability and bottom-line results with enhanced data management and digital twin strategies.
In a bid to spur this growth, Interswitch, Africa’s leading technology company that specializes in delivering comprehensive technology solutions which drive inclusive growth through effective systems integration and digital infrastructure deployment, has collaborated with Stratus, a global leader in simple, protected, and autonomous Edge Computing platforms, to unveil digital products, and solutions that will deepen the adoption of digital transformation in the sector. These innovative solutions were showcased at the recently concluded Nigeria Oil & Gas (NOG) Energy Week which held from July 9-13, 2023, with the theme ‘Powering Nigeria’s Sustainable Energy Future’.
The range of products and solutions jointly introduced by Interswitch and Stratus include Asset Performance Management (APM) applications, fault-tolerant edge computing platforms supporting advanced analytics with artificial intelligence (AI) and machine learning (ML), real-time simulation, and digital twins for efficiency optimization, as well as secure and autonomous edge computing platforms for monitoring and control. These cutting-edge solutions are specifically designed to address critical industry challenges, streamline operations, increase efficiency, and reduce costs.
Adopting these world-class technologies and infrastructure will not only drive significant revenue growth but will also enable companies to create value-added services for their customers.
Interswitch remains committed to designing novel solutions and technologies that build sustainable businesses and enhance digital transformation across the country. The company’s partnership with their distributor, Stratushighlights its focus on tapping the enormous potential that exists on the African continent and leveraging strategic partnerships to develop solutions tailored to suit the unique demands of the African market.
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