Siemens Nigeria Limited Says embracing latest technology is pivotal if oil and gas operators hope to get as much value out of investment and cut production cost. The oil and gas industry is driven by quality and irrespective of market conditions; the sector is such a CAPEX drive industry that there is a need for advance is technology. The company observes there is strategic need for operators in the industry to raise their bars so as to have an improved platform performance with very simple equipment. Onyeche Tifase, managing director, Siemens Limited observed that the down turn in oil price has affected the industry which was what necessitated Siemens developing into oil and gas portfolio. Tifase while speaking at an oil and gas programme in Lagos said Siemens decision to introduce new mechanical solutions into the Nigeria market is from the stand point of efficiency she said aside from ensuring the solution last, are environmentally friendly; guarantee from the investment made, it must also be sustainable. According to her, “Our solutions are built to stand the test of time. Our mechanical solutions are also intelligent and improve its performance.” She further said that the aim of the stakeholders’ engagement in the oil and Gas industry is to see how ICT and digitalization can add value tour clients and help get deeper insight disclosing that it represents the next phase of development for Siemens. Patrice Laporte, vice president Oil and gas, North America, Siemens, reiterated that the programme is basically to bring the latest technology of Siemens available into the Nigerian market. Laporte observes that operators in the industry are looking at reducing cost. “This cannot be done by the traditional way, rather operators need to think differently. What we are proposing is that with new technology, new software tools would bring release either assets that are existing to or new assets” he said. To him, operators in the oil and gas industry have to make a switch in their minds that the era of oil price hitting 100 dollars per barrel is over adding that 50 dollars is going to stay the long term”. He disclosed that to bring down the price in the offshore, operators need to think differently. So software are the once that is going to change the industry because it will help operators to do platform more efficiently and a lot quicker in a way which would in turn save money. On the solutions to safeguard pipelines, Laporte assures that Siemens have a portfolio that takes into account the challenges of militants attack on oil installation “We have solution around pipeline integrity because we know in Nigeria it is a peculiar integrity because we know in Nigeria it is a peculiar situation. We do have technology that would make things safer particularly in pipelines”.