Why implementation of Sustainable practices in oil and gas operations

• Oluseile Babayeju has asked oil and gas practitioners to embrace sustainable measures in the industry
• He has asked the industry to integrate these principles into standard practice to drive a much-needed revolution
• Babayeju added that embracing sustainability principles in any industry helps to enhance operational efficiency

Legit.ng’s Pascal Oparada has reported on tech, energy, stocks, investment and the economy for over a decade.

The global Oil and Gas industry is facing increasing pressure to minimize its environmental footprint and transition towards sustainable practices. 

The importance of adopting sustainable practices in Oil and Gas has been underscored in recent years. As such, there is an urgent need to address the environmental concerns associated with traditional Oil and Gas operations while also enhancing operational efficiency and upholding social responsibility.

Babayeju advocates safe practices in the oil and gas sector
Source: Original

Babayeju advocates sustainable practices

A Six Sigma Black Belt Professional and practicing Asset Instrumentation Engineer, Olusile Babayeju, believes that there is a pressing need for a reassessment of the industry's current practices to evaluate their environmental impacts and identify areas for improvement. 

Babayeju, an electrical and Electronics Engineering graduate of the Obafemi Awolowo University, Ile-Ife, believes that implementing sustainable practices in oil and gas operations is important in addressing the industry's environmental, social, and economic challenges.

“As one of the largest and most influential sectors globally, the Oil and Gas industry plays a significant role in shaping the world's energy landscape and impacting the environment. By adopting sustainable practices, Oil and Gas companies can reduce their environmental footprint and contribute to mitigating the adverse effects of climate change. This entails minimizing greenhouse Gas emissions, conserving natural resources, and promoting ecosystem integrity,” he said.

Oil and gas players to integrate sustainable steps

Babayeju added that embracing sustainability principles in any industry helps to enhance operational efficiency, regulate costs, and improve long-term resilience to market-associated risks. 

He has called on oil and gas industry stakeholders to integrate these principles into standard practice to drive a much-needed revolution.

“Beyond the environmental considerations, sustainable practices also encompass social responsibility, including fostering community engagement, respecting human rights, and promoting equitable development. The imperative for sustainability in Oil and Gas operations extends beyond mitigating negative impacts to embracing opportunities for innovation and diversification,” Babayeju stated.

Babayeju also noted that when weighing the benefits of sustainable practices against the implementation cost, it is crucial to consider the inevitable improvements in overall performance and safety indices.

“While initial investment costs for adopting sustainable technologies and practices may be higher compared to traditional approaches, long-term benefits such as cost savings, operational efficiency improvements, and risk mitigation can outweigh upfront expenses, as they will ultimately reduce operational costs, minimize regulatory compliance risks, and enhance competitiveness in the evolving energy market.”

Given the long-term viability and relevance of the Oil and Gas industry in the rapidly evolving energy landscape, Babayeju insists that it is time to revamp the industry's operating standards: “Oil and Gas operations have significant environmental impacts across various stages of the value chain, from exploration and extraction to transportation, refining, and distribution. These impacts include habitat destruction, air and water pollution, greenhouse gas emissions, and biodiversity loss.

“The environmental impact of Oil and Gas operations highlight the urgent need for sustainable practices to prevent harm, protect ecosystems, and transition towards a more environmentally sustainable energy future,” he said.

NNPC set date to launch $700 million gas project

Legit.ng previously reported that the Nigerian National Petroleum Company Limited (NNPC) plans to deliver the Obiafu-Obriku-Oben (OB3) gas pipeline project by August this year, driving industrialisation and economic growth.

NNPC’s group chief executive, Mele Kyari, inspected the mega project in Delta State on Saturday, June 22, 2024, and affirmed the imminent completion of the project.

Kyari said that the project would add value to Nigeria upon completion, and about 2.2 billion standard cubic feet of gas would enter the network.

Source: Legit.ng