Page 5 - LatAmOil Week 49 2021

LatAmOil COMMENTARY LatAmOil

Potential applications be variable, and therefore weather conditions
In his address, Young offered several examples can significantly affect the output of the solar
of how Big Data might give the country’s energy utility project,” he explained. “By processing
sector a boost. weather data such as temperature, atmospheric
One of the examples he cited was a plan pressure, humidity, cloud cover, data analytics
developed by National Gas Co. (NGC) for using will enable a more accurate and efficient fore-
huge data sets to optimise the operations of its casting of solar power generation. The informa-
domestic natural gas pipeline networks. These tion generated will allow for consolidation with
networks include about 1,000 km of onshore loads from other sources by the grid to provide
and offshore transmission and distribution pipe- reliability and to reduce cost.”
lines, all of which are equipped with connected
sensors and monitors that generate a substantial Upstream potential
amount of data each day. State-owned NGC has The minister was much less specific about how
drawn up a three-year plan for making use of Big Data might be useful in the upstream and
these data “as a strategic asset to improve its agil- downstream segments of the oil and gas indus-
ity in decision-making, its operational safety and try, saying only that large data sets had proved
reliability and process efficiency,” he said. elsewhere to be a means of improving perfor-
“The key elements include a business intelli- mance and creating value. In the event of
gence (BI) and an analytics programme, which His reticence on this front is not surprising, a deepwater
[will be] augmented by a data warehouse and given that these are precisely the areas in which
the implementation of Industrial Internet of Trinidad and Tobago leans most heavily on for- discovery, Big
Things (IIoT) Technologies,” he said. “The use eign investors. It needs international oil com-
of IIoT and Big Data analytics will improve the panies (IOCs) on the upstream side because it Data can help
detection of pipeline leaks and predictive main- does not have the funds, technology, equipment
tenance, thereby reducing downtime and oper- or expertise needed to explore and develop its IOCs optimise
ating expenses.” most promising offshore areas. Meanwhile, it recovery rates
also needs outside investors on the downstream
Electric insights side because it lacks many of the resources and
The minister also highlighted the benefits that capacities needed to develop and build petro-
new technologies might offer to the power-gen- chemical and chemical plants.
erating sector. Nevertheless, Young’s support for the NEDR
The national electricity provider could use project indicates that Port of Spain would like
Big Data “to effectively match energy supply and to explore Big Data’s potential for optimising
demand on the grid, thereby improving energy upstream and downstream projects. This is wise
production efficiency and reducing production in light of the fact that MEEI has just called a
costs,” he explained. “This ultimately leads to a tender for 17 offshore blocks, all of which are
reduction in the financial burden on the state,” located in deepwater sections of the country’s
he added. offshore zone. Big Data is a useful tool when
Big Data is likely to become even more useful deciding exactly where to carry out exploration
as the power industry incorporates more renew- drilling, since the cost of failure is so high. And
able energy facilities, which are subject to inter- in the event of a discovery, Big Data can also help
mittency resulting from changes in cloud cover optimise recovery rates, thereby maximising
or wind speed, Young said. “[Solar] energy can profitability. ™

(Image: EnHelix)

Week 49 09•December•2021 www. NEWSBASE .com P5