The Vice-President, Oil and Gas, North America and Africa, Siemens Energy Incorporated, Mr. Patrice Laporte, while speaking at the Siemens Solutions for Oil and Gas Industries forum in Lagos, announced the introduction of new technologies aimed at reducing costs in the Nigerian oil and gas industry, The Punch reports.

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,” he added.

The Managing Director and Chief Executive Officer, Siemens Nigeria, Onyeche Tifase said the company had added solutions that “can help oil firms have transparency on the operations of equipment from remote locations, thereby enhancing efficiency.”