April 2021

Articles  ·  Publications
BIG DATA ANALYTICS IN THE OIL AND GAS INDUSTRY

Recent technological improvements have resulted in the daily generation of massive datasets in the oil and gas industry. Applying advanced analytics and artificial intelligence provides oil and gas companies the ability to identify trends and predict events throughout processes. This will enable quick response to disruptions and improve efficiencies.

“Big data analytics is the use of advanced analytic techniques against very large, diverse big data sets that include structured, semi-structured, and unstructured data, from different sources, and in different sizes from terabytes to zettabytes” [1].

What is Big Data? It can simply be defined as unstructured (not organized and text-heavy) and multi-structured data (including different data formats resulting from people/machines interactions) [2].

Big data offers numerous opportunities for businesses, whether used independently or with existing traditional data. Data scientists, analysts, researchers, and business users can leverage these new data sources for advanced analytics that deliver deeper insights and power innovative big data applications. 

Some common techniques include data mining, text analytics, predictive analytics, data visualization, AI, machine learning, statistics, and natural language processing [3]. To handle the volume of data being generated today, open-source software such as Apache, Hadoop, Apache Spark, entire Hadoop ecosystem are designed to ensure flexible data processing and storage [4].

Characteristics of Big data include Volume, Veracity, Velocity, Value, and Variety. See the image below. 

 

Figure 1 Characteristics of Big Data (https://www.edureka.co/blog/what-is-big-data/)

Application of Big data Analytics in the Industry

In the quest to search for what lies below the surface, oil and gas companies have been exposed to large amounts of data. They have complex systems that have evolved over time and now contain disparate data sets. Big data analytics can play a major role in improving operations and productivity across the industry value chain as follows:

  • Machine learning tools which are best suited for analyzing seismic data can reveal relationships between recorded data
  • Data gathered from different operations through drilling can be applied to conduct various analyses from scheduling to drilling operations [3] thereby improvingdrilling performance.
  • Companies in the business of making big data technologies can develop reservoir management applications. This can be utilized to get timely and actionable information regarding changes in reservoir pressure, temperature, and flow [4].
  • In production engineering, big data analytics can optimize the performance of production pumps.
  • Big Data analytics manages risks and enhances safety by improving oil and gas occupational safety.
  • Predictive analytics can be usedto reduce downtime and maintenance costs of oil refining equipment, consequently improving asset management.

GACN, as Nigeria’s strategic gas aggregator, continues to explore avenues for leveraging predictive analytics statistical techniques in key activities like price aggregation, gas portfolio management, and network code agency services, to make predictions, create reports and inform key decisions regarding gas pricing, DGSO (domestic gas supply obligation) performance, gas demand trends, portfolio growth projections, etc.

The transition towards implementing big data technologies in work operations may not be easy for many oil companies because of lack of expertise and rigidity towards accepting new work practices but once they get around the limitations, they will reap its full benefits.

In conclusion, data is just like crude; it is valuable, but if unrefined it cannot be put to good use.

Sources

[1]:https://www.ibm.com/analytics/hadoop/big-data-analytics

[2]:https://www.dbjournal.ro/archive/15/15_4.pdf

[3]:https://www.ibm.com/analytics/hadoop/big-data-analytics

[4]:https://www.ibm.com/analytics/hadoop/big-data-analytics

[5]:https://www.sciencedirect.com/science/article/pii/S2405656118301421#:~:text=Analyzing%20seismic%20and%20micro%2Dseismic,and%20improved%20occupational%20safety%20are

[6]:https://www.sciencedirect.com/science/article/pii/S2405656118301421#:~:text=Analyzing%20seismic%20and%20micro%2Dseismic,and%20improved%20occupational%20safety%20are

Articles  ·  Events  ·  News Clip
GACN ACHIEVES YET ANOTHER POSITIVE RECOGNITION OF ITS CONTRIBUTION TO THE GAS SECTOR

Featured in Business Day Publication Celebrating 50 Major Indigenous oil Majors in Nigeria.

Businessday, Nigeria leading and influential business and financial daily, has published a landmark edition aimed at celebrating 50 major indigenous players in the Nation’s oil and gas industry.

Businessday stated that GACN was selected having closely monitored the company’s impressive corporate governance practices, its track record and reputation in the oil and gas sector, as well as its flexible adaption to emerging challenges and demands of the volatile oil and gas markets.

GACN management considers the honour a charge to do more and bring to bear GACN’s culture of excellence in all facets of its Gas sector initiatives and activities.

In a special report dated 1st April 2021 captioned “GACN at a Glance’’, The Newspaper highlighted GACN’s notable key achievements as well as new initiatives.

GACN Considers that this recognition is due to the consistent support of its stakeholders as well as key oil and Gas industry leaders such as The Honourable Minister of State for Petroleum H.E, Chief Timipre Sylva, the GMD NNPC, Mallam Mele Kyari, and the Nigerian Gas Association.

Articles  ·  Events
CORPORATE SYNERGY BETWEEN GACN AND NGA

GACN currently is in a drive towards strengthening its corporate visibility and relevance. One of the most crucial aspect to any organization is its visibility. This will rightly position GACN before ideal audience and invariably provide adequate service as required. The choice of having corporate synergy with the Nigeria Gas Association (NGA) is one good step towards achieving this goal. GACN as a member, seeks for a better way to actively participate in the activities of the organization and consequently impact its existence and the gas industry at large. The NGA is the Apex organization representing the varied and numerous stakeholders in the gas sector within the Nigerian oil and gas industry. NGA anticipate and drive legislation and policies. Promote investment in the Nigerian gas sector. Strives to be the industry resource centre of choice and encourage best practices and acceptable standards. With the merits of NGA, having a corporate synergy will further strengthen the corporate visibility of GACN.

The Nigerian Gas Association (NGA) recently hosted their second edition of their industry multilogues. It is a two-day event which featured over 300 participants across the globe with 35 local and international speakers, on February 25 and 26, 2021.  The president of the Nigerian Gas Association Mrs Audrey Joe-Ezigbo in her welcome address espoused that the combination of how crude oil prices and falling crude oil export due to the pandemic has incapacitated Nigeria’s fiscal position, in order to cushion the economy and boost industrialisation the country must harness it vast domestic Gas potential with immediate effect.

The inauguration of the new executive committee was also conducted with Mr Ed Ubong as the new president of the organization. He emphasized and pledge that his administration will always engage and partner industry players in the gas chain and addressing its challenges and unfolding new ideas and initiatives.

GACN was honoured to host a memorable and important meeting on the 20th April 2021 with NGA to deliberate, discuss and address varied issues in the gas sector. After an insightful robust deliberation on gas commercialization and operationalization were new action plan was mapped out to further strengthen their collaborations to forge ahead. Pleasantries were exchanged and pictures were taken.

Articles  ·  Publications
What is Stress?

What is Stress?

Stress is the body’s natural response to changes in our life. These changes can be positive or negative and because life involves constant change, our goal should not be to eliminate all stress as that is impossible but to eliminate unnecessary stress and effectively manage the rest.

The National Institute of Mental Health (NIMH) recognizes two types of stress:

Acute Stress: This type of stress is short-term and is a more common form of stress. It often develops when we consider the pressures of events that have recently occurred or face upcoming challenges in the near future. For example, we may feel stressed about an upcoming work project or an examination. Acute stress will usually disappear once we meet the task. The short-term effects of acute stress include headaches, an upset stomach, as well a moderate amount of distress.

Chronic Stress: This type of stress develops over a long period and is more harmful. It occurs when we can not see a way to avoid the stressors and stop seeking solutions. For example, it can be caused by a traumatic experience or a continuous negative occurrence. Chronic stress makes it difficult for the body to return to a normal level of stress hormone activity and can go unnoticed for a while, as people can become used to feeling agitated or hopeless.

A lifestyle of frequent stress can lead to anxiety, depression, heart disease, high blood pressure, low body immunity, PTSD, sleeping difficulties, stomach upset, erectile dysfunction, etc.

Signs of Stress

Fatigue, Aggressiveness, Irritability, Frustration, Depression, Restlessness, Forgetfulness, Headaches, Muscle spasms, Nervous twitches, Chest or Back Pain, etc.

Stress Associated Behaviors

Food cravings or not eating at all, sudden angry outbursts, drug & alcohol misuse, higher tobacco consumption, social withdrawal, frequent crying, relationship problems, etc.

Treatment

Medicine: Doctors will not usually prescribe medications for coping with stress unless they are treating an underlying illness such as depression or an anxiety disorder. In such cases, antidepressants will be prescribed. There is however a risk that the medication will only mask the stress rather than help resolve it. People struggling with overwhelming stress are strongly encouraged to seek medical assistance.

Stress Relieve: This includes exercise, reduction in the intake of alcohol, drugs & caffeine, a balanced diet, priority/time management, rest, constant communication with loved ones, acknowledging the stressors, etc.

Noticing the signs and symptoms of stress is the first step to taking action.

Stress Management Techniques

Removing or changing the source of stress, altering how we view stressful events, lowering the effects that stress might have on our bodies, learning alternative ways of coping, etc.

 

An unknown author once said, and i quote “Don’t stress the Could Haves, If It Should Have, It Would Have.”

Image: https://www.yummymummyclub.ca/blogs/dr-kim-foster-wicked-health/how-to-create-a-stress-management-plan

Articles  ·  Publications
Health, Safety, Security and Environment Brief

HEALTH TIPS

There have been reports of a third wave of COVID-19 in various countries and a warning from the Presidential Taskforce on COVID-19 for Nigerians to be wary of neglecting the guidelines set by NCDC. Thus, it is essential for individuals to take responsibility for the protection of themselves, loved ones, and the community. The following key points may prove useful for the upcoming festive season:

  1. Endeavour to continually adhere to Covid-19 protocol:
  • Use facemask
  • Wash hands
  • Maintain 2metres physical distance in public places

2. Use of vitamins and minerals can boost your immune system and keep you healthy.

SECURITY TIPS

Additionally, the security situation in Nigeria has recently been compounded by various issues such as Ethno-religious conflicts, Proliferation of Arms, Kidnapping (for ransom), Terrorism and Insurgency, Armed Robbery, Cultism, Secessionist Groups, Fraud, etc.

As is said, there is no Sec_rity without “U”. Hence, Personal security is vital, neglect may be very traumatic. Some Recommendations are highlighted below:

  • Avoid making unguarded statements and altercations, especially involving ethnoreligious issues.
  • Keep a low profile and be conservative with information sharing (especially on social media) to avoid attracting unnecessary attention.
  • Avoid predictable routines and late-night outings especially in identified ‘red zones.
  • Be informed about security arrangements in your community and endeavor to make adjustments where necessary.
  • It is advisable to maintain a cordial relationship with security personnel in your community. Also, engage them on recent trends and mitigation steps.
  • If you have loved ones in boarding schools, find out what additional security arrangements are in place to safeguard the Students, as well as Academic and Non-Academic Staff from wanton attacks.