The Managing Director, Tanzila Petroleum Company, Alhaji Shehu Badamasi has said that for the global oil industry, the only thing that is certain now is change; that is already a cliché and that there is no job in the oil industry that will not change in due course.
The only thing that is certain now is that people will make the difference between breakthrough growth and stagnation, Alhaji Shehu Badamasi said while speaking to media men in Lagos recently.
“Developments in recent years point to an industry still reeling in uncertainties, rising oil prices notwithstanding.
It has been over a year since the upward climb, yet an ominous cloud still hangs on the direction prices would go.”
“Besides, disruptive technologies such as hydro-fracking, autonomous systems, block chain, artificial intelligence (AI) and robotics are redefining the future of hydrocarbon Exploration and Production.
Some are already predicting that with the advent of artificial intelligence, there is no job in the oil industry that will not change in due course. All these are coming at a time when the West and Asia are investing heavily on electric vehicles, with near term deadlines for changing over from fossil fuels.”
Alhaji Shehu Badamasi said: “For Oil and Gas CEOs and HR leaders, there is no play book for leading at a time like this. But though tomorrow’s environment may be different, it will be no less rich in possibilities for those who are prepared. To paraphrase a statement by Mckinsey, ‘It makes sense therefore, that to harness the possibilities, talent is key, and that with a high sense of urgency.’People must be seen as the real asset for charting the road to recovery, creative and resilient people skilled at cutting through chaos, to deliver and growth.
Badamasi said Education and Training need to be funded to the right levels by countries and companies, with investments in new models for learning and delivery.” Emielu added: “What are the options for Nigeria, Angola, Egypt and other African hydrocarbon nations? Will the evolving new normal prove an existential challenge for these economies that have for long been highly dependent on oil revenues?
Will their E&P operators and service companies pass the stress test being hauled at them by the waves of complexities facing the oil industry today? “No easy answers for sure, but talent holds the key’’. Badamasi concluded.
SOURCE: Vanguard