Crude price fall: Oil and Gas firms need ICT solutions to sustain profitability – Opeke

The Chief Executive Officer of MainOne Ms. Funke Opeke made the call at the Lagos Oil Club Questions and Answers Session for January, 2015.Opeke, who delivered a presentation titled, “Enabling Oil and Gas Production with Advanced Connectivity Solutions,” said effects of the crash in the international prices of crude oil on Nigeria’s economy cannot be […]

The Chief Executive Officer of MainOne Ms. Funke Opeke made the call at the Lagos Oil Club Questions and Answers Session for January, 2015.
Opeke, who delivered a presentation titled, “Enabling Oil and Gas Production with Advanced Connectivity Solutions,” said effects of the crash in the international prices of crude oil on Nigeria’s economy cannot be undermined.
“The role of ICT is particularly critical in driving down costs and optimizing operational efficiency in this period of falling oil prices. Oil and gas companies need to adopt ICT solutions to maintain profitability,” she said.
The MainOne CEO stated that global oil prices have expedited necessary fiscal belt-tightening measures.
According to her, with Federal Government reviewing 6000 ongoing projects and proposing doubling of Value Added Tax from 5% to 10%, oil and gas companies too should follow suit by leverage on available ICT infrastructure in Nigeria.
Opeke also informed about plans to extend the MainOne sub sea cable to Cameroun with a branch in the oil producing Delta Region.