14 June 2017

Nigeria: Siemens Launches Cost Cutting Strategies for Industry

Siemens Nigeria Limited has introduced cost cutting strategies to operators in the country's oil and gas sector with the launch of new technologies.Speaking on the side-line of a forum organised to introduce the new technologies in Nigeria, the Managing Director of Siemens Nigeria, Onyeche Tifase, said the company developed the new oil and gas portfolio to ameliorate the challenges of low oil prices.

Tifase said: "The oil industry is driven by quality and capital expenditure, irrespective of market conditions. There is a strong requirement to get as much value out of your investment as possible. So, that was always the basis for Siemens developing its oil and gas portfolio."

According to her, "Our solutions are built to stand the test of time. Our mechanical solutions are also intelligent and improve its performance."She added that the aim of the stakeholders' engagement in the oil and gas industry is to see how digitalisation can add value to the company's clients operations in Nigeria.

The Vice-President, Oil and Gas, North America and Africa, Siemens Energy Incorporated, Patrice Laporte, who spoke at the Siemens Solutions for Oil and Gas Industries in Lagos, noted that costs had gone up in the industry in recent times.

He said: "Basically, people are looking at reducing costs at the moment, and it is not by the traditional way of asking for price reduction. What we are proposing are new methodologies and tools like software tools and connection of assets to the cloud.

"We need to find ways to reduce costs. With the new technologies, companies can understand better what is happening in their oil fields, and can reduce their maintenance and operation costs, and the number of people on the platforms."

According to Laporte, projects will come on stream if companies are able to achieve a certain cost level.He said: "At the moment, the cost level that we have in the oil industry is far too high. We need to bring it down to allow projects to be done, and that is basically what we are proposing now with the solutions that we do have.

"Today, we have a broad range of software applications. The aim is basically to implement this new technology in Nigeria. We have started already with some of these technologies, and we have to go quicker in implementing these kinds of technologies in the country. We are in negotiation with some companies in Nigeria including the international oil companies."

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