Would you like to receive notifications on latest updates of the following headlines?

NMGS advocates for AI, 3D technologies in transforming Nigeria's oil reservoir management

POSTED ON February 21, 2025 •   Business      BY Abiodun Saheed Omodara
Artificial Intelligence (AI)

ABUJA, Nigeria (NAN) - The Nigerian Mining and Geosciences Society (NMGS) has urged the incorporation of Artificial Intelligence (AI) and 3D technologies in oil reservoir management. 

This appeal was articulated in a communiqué released during the 60th Annual International Conference and Exhibition (AICE), which focused on the transformation of the mineral, energy, water, and construction sectors through innovative approaches.

The communiqué, endorsed by NMGS President, Prof. Akinade Olatunji, was made public on Friday in Abuja.

NMGS highlighted the necessity for innovative solutions for reservoir monitoring, including machine learning and improved oil recovery techniques grounded in geological insights.

The society stated, “Local innovative approaches such as imaging, high-resolution 3D, and time-lapse 4D for reservoir monitoring, as well as machine learning and enhanced oil recovery strategies utilizing geological knowledge, ought to be embraced.”

It criticized the underutilization of domestic technical innovations, despite them meeting global standards, which has led to an ongoing reliance on foreign expertise. This dependency, it was noted, has impeded the success of local firms and their capacity to compete on a global scale.

NMGS pinpointed insufficient geological data as a significant obstacle in managing Nigeria's mineral resources, calling for a collaborative effort among government, academia, and industry to compile geological data into a single, consistently updated repository.

It also highlighted the absence of cooperation among key stakeholders, resulting in a technical knowledge gap, and urged increased partnerships between local and international development organizations.

Furthermore, the society recommended establishing engineering geological laboratories to mitigate the shortage of geoscientific applications in the construction industry, which has contributed to structural failures and loss of lives.

NMGS also brought attention to the insufficient infrastructure and high operating costs in the minerals sector, which have led to expensive energy alternatives and diminished profit margins. To address this, it advocated for improvements in power supply and enhancing local value addition to minerals through infrastructural advancements.

Additionally, the society stressed the need for sustainable policies in the mining sector, noting that inconsistent policies and abandoned programs have created uncertainty, undermined investor confidence, and stalled growth. It called for ongoing policy implementation to foster effective mining practices.

In response to the insecurity impacting the mineral sector, NMGS underscored the urgency of addressing socio-economic conflicts that drive illegal mining, banditry, and other security issues in mining areas. It pointed out that insecurity has caused interruptions in mining operations, loss of investors, revenue decline, and casualties.

Recketparrot News report that the conference, which took place from February 16 to 21, included sub-themes such as resource management and value addition in the minerals and mining industry, as well as maximizing the advantages of Nigeria’s water resources.

Other sub-themes covered managing emerging realities in the Nigerian oil and gas industry, optimizing geoscience applications in construction, and realigning geoscience and mining education with global trends.

Rocketparrot News  also learnt that over 1,000 participants attended, including students who competed in an Inter-varsity Geoscience Challenge Bowl, with the University of Jos clinching the top prize of N1 million.

READ ALSO
US Economic Growth to Decelerate Amid Trade Tensions, Policy Uncertainties
BY Abiodun Saheed Omodara May 16, 2025 0

The United Nations Department of Economic and Social Affairs (UN DESA) has indicated that the global...

READ ALSO
Trade Tensions Rise as South Korea and U.S. Prepare for Key Discussions
BY Abiodun Saheed Omodara May 16, 2025 0

AFP - South Korea is prepared to restart tariff discussions with Washington during an important APEC...

READ ALSO
Sanwo-Olu Establishes Apapa Central Business Office to Enhance Infrastructure, Business Climate
BY Abiodun Saheed Omodara May 15, 2025 0

Lagos State Governor, Babajide Sanwo-Olu, has sanctioned the creation of the Apapa Central Business...

READ ALSO
NBS Reports April 2025 Inflation Rate Falls to 23.71%, Highlighting Food Safety Risks
BY Abiodun Saheed Omodara May 15, 2025 0

The inflation rate for April 2025 dropped to 23.71 percent, down from 24.23 percent in March 2025, m...

READ ALSO
Nasarawa Assembly Enacts Mining Bill to Ensure Compliance and Community Welfare
BY Abiodun Saheed Omodara May 14, 2025 0

NASARAWA, Nigeria - The Nasarawa House of Assembly On Tuesday approved a mining bill aimed at regula...

READ ALSO
CBN Launched BVN Platform for Nigerians Living Abroad
BY Abiodun Saheed Omodara May 14, 2025 0

The Central Bank of Nigeria (CBN), in partnership with the Nigeria Inter-Bank Settlement System (NIB...

READ ALSO
Tinubu Calls for Unified Tax System to Enhance Revenue Generation and Equity
BY Abiodun Saheed Omodara May 13, 2025 0

ABUJA, Nigeria - President Bola Tinubu has reiterated his commitment to undertaking bold and compreh...

READ ALSO
World Bank: Tinubu’s Reforms Bringing Stability to Nigeria’s Economy
BY Abiodun Saheed Omodara May 13, 2025 0

ABUJA, Nigeria - The World Bank expressed approval of the federal government on Monday, noting that...

OUR CHANNELS:

Trade Tensions Rise as South Korea and U.S. Prepare for Key Discussions
BY Abiodun Saheed Omodara May 16, 2025 0

AFP - South Korea is prepared to restart tariff discussions with Washington during an important APEC...


Obi Urges Tougher Penalties for Corruption amid Nigeria's Leadership Crisis
BY Abiodun Saheed Omodara May 16, 2025 0

Peter Obi, a prominent opposition figure in Nigeria, has called for harsher penalties for corrupt po...


ECOWAS Court Orders Nigeria to Release Businessman Imprisoned Since 2009
BY Abiodun Saheed Omodara May 16, 2025 0

The Economic Community of West African States Court on Thursday has mandated the Nigerian Federal Go...


Sanwo-Olu Establishes Apapa Central Business Office to Enhance Infrastructure, Business Climate
BY Abiodun Saheed Omodara May 16, 2025 0

Lagos State Governor, Babajide Sanwo-Olu, has sanctioned the creation of the Apapa Central Business...


NBS Reports April 2025 Inflation Rate Falls to 23.71%, Highlighting Food Safety Risks
BY Abiodun Saheed Omodara May 16, 2025 0

The inflation rate for April 2025 dropped to 23.71 percent, down from 24.23 percent in March 2025, m...


Police Re-Arraign VeryDarkMan for Alleged Cyberbullying of  Nollywood Actress, others
BY Abiodun Saheed Omodara May 15, 2025 0

Controversial social media personality Martins Otse, popularly known as VeryDarkMan (VDM), was on Th...


Actress Jumoke George Shares Emotional Journey as Daughter Adeola is Found
BY Abiodun Saheed Omodara May 15, 2025 0

Adeola, the 41-year-old daughter of renowned Yoruba actress Jumoke George, has been located in Mali...


House of Representatives Advances Bill to Make Voting Mandatory for Nigerians
BY Abiodun Saheed Omodara May 15, 2025 0

Abuja, Nigeria- The House of Representatives has passed for second reading a bill seeking to am...


NANS Calls for JAMB Registrar Ishaq Oloyede's Resignation Over 2025 UTME Errors
BY Abiodun Saheed Omodara May 16, 2025 0

The National Association of Nigerian Students (NANS) has called for the resignation of Ishaq Oloyede...


Peter Obi Commends JAMB’s Accountability, Warns of Institutional Fragility Over UTME Glitches
BY ROCKETPARROT.com staff May 16, 2025 0

Former Anambra State Governor and Labour Party presidential candidate in the 2023 elections, ...


More Articles

Load more...

Menu