Oritsegbubemi Omatseyin
Lagos — The Nigerian Upstream Petroleum Regulatory Commission, NUPRC, has highlighted the importance of multi-client data and technology in driving cost efficiency and growth of reserves in the Nigerian upstream oil sector.
The Executive Commissioner of Development and Production at the Commission, who stated this, stated that multi-client data and technology leverages shared data resources among multiple operators, enabling oil and gas companies to access critical geophysical and geological data at a fraction of the cost.
This model, he noted, reduces redundant data acquisition efforts, allowing companies to focus resources on exploration and production activities rather than on expensive, repetitive data collection.
According to him, by centralising data and using advanced analytics, operators can gain deeper insights into potential reserves, thereby optimizing exploration success.
Represented by Engr. Emmanuel Mac-Jaja at the Nigerian Association of Petroleum Explorationists, NAPE, 2924 Conference, Engr. Amadasu further stated that multi-client data solutions are particularly important for Nigeria, where high exploration costs and operational complexities often deter investment.
He added that these data sharing initiatives could help mitigate such challenges by minimizing financial risks associated with exploration and development.
This article was originally posted at sweetcrudereports.com
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