Successful capital investments in the energy sector demand more than just financial acumen – they require a deep understanding of the human element driving every project. Through decades of experience managing global energy and mining investments, Akin Oni has developed a unique perspective on what truly matters. As a leader who has overseen numerous major capital project teams worldwide, his insights on people, technology, and leadership offer valuable lessons for navigating today’s complex investment landscape.
Understanding the People Factor
When asked about the most valuable lesson from his career, Akin points to something that might surprise many: the central role of people. “People define strategies, people develop and plan projects, people deliver projects, people operate a finished project, people decommission a facility after it has come to the end of its useful life,” he explains. “People are actually one central piece of any investment all through its lifecycle.” His experience has shown that success in major capital projects hinges on having the right team in place. “And it’s not just about having the right number of people – it’s also about having them at the right time,” Akin notes. “Additionally, we need to understand their competencies as they perform well today, and how we’ll develop/prepare them for tomorrow’s challenges, which will be different from today’s.”
Akin’s leadership philosophy centers around what he calls the three P’s: People, Planning, and Performance. “People initiate projects, they plan the projects, present them for approval to execute. They execute it and they operate it when it’s done,” he explains. “However, as leaders, we must make sure that we create an environment for robust planning.” Finally, he emphasizes that good planning isn’t enough – every project requires disciplined execution in order to deliver value to the sponsoring organization(s) and stakeholders. “You have to bring these together into one meaningful whole so that the team is positioned to deliver on stakeholders’ expectations. That’s the performance piece, which is equally important.”
Embracing AI in Energy Investment
The emergence of artificial intelligence has brought endless possibilities to energy investment, though Akin approaches the topic with measured optimism. “The advent of AI has brought a new set of excitement into the capital investment space,” he says. “When I use the word excitement, I use it with caution because, to some, AI actually introduces a new world of high-impact risks, whereas I see a mixed bag of priceless opportunities and undeniable risks.”
He identifies four key areas where AI is making a significant impact:
1. Predictive Analytics: “There are AI-driven models which we use for marketing, for forecasting labor availability, for forecasting investment optimization, for forecasting probable delivery outcomes, etc.”
2. Risk Management: “When you are able to significantly assess the risks, you are able to come up with different models, you are able to stress-test your capital investment.”
3. Operational Efficiency: “I can sit in the comfort of my office, hundreds of miles away, and zoom into an area of a mega facility to see what’s going on there.”
4. Investment Decision Making: “With the right input parameters, AI has the capability to come up with different scenarios that will help you make informed decisions.”
The K-F-C Framework for Achieving Goals
For those entering the energy investment field, Akin shares his “K-F-C” framework – and it’s not about chicken. It stands for Knowledge, Focus, and Commitment. “Knowledge is not power,” he emphasizes. “Knowledge with action is power.” The ‘F’ represents focus, specifically laser focus, which Akin describes as being “predicated on three things: clear thinking, planning, and discipline.” Finally, the ‘C’ stands for commitment – specifically, unconditional commitment. To illustrate this, he shares a personal story: “Since December 26, 2019, I decided I will take 10,000 steps every day. Rain, shine, Christmas, Thanksgiving, Easter, it doesn’t matter….and by deploying the K-F-C framework, I have not missed a day since.” I challenge you today to identify one to 3 goals in your energy investment practice journey and consciously push each goal through the K-F-C framework independently. By so doing, you significantly increase the probability of achieving it.
Creating Ownership, Not Giving It
Akin’s unique approach to leadership centers on empowerment. “I don’t give people ownership,” he states. “I create an “authorship environment” for people to take ownership.” This philosophy has proven successful across different cultures and continents where I have been privileged to practice. “Most people want to have skin in the game,” he explains, “and you have to approach them the right way.” His leadership style distinguishes between effectiveness and efficiency. “Effectiveness means doing the right things,” he explains. “Efficiency means doing things right. My core role as the leader of my team is to focus on effectiveness while my team focuses on efficiency, combined with my curiosity.” He emphasizes that providing the right leadership to the right team leads to optimal results, irrespective of the operating environment.
For Akin, the future of global energy investment is exciting, and winning will depend on intelligently integrating people, projects, and technology. His experience shows that as tools and technologies evolve, the fundamental significance of human capital remains constant. On a final note, “through transparent leadership, openness to innovation and strategic use of new technologies, such as the AI tools, the energy sector will continue to adapt and grow, as the global operating environments evolve.” he asserts.
To learn more about Akin Oni’s energy investment strategies and leadership insights, connect with him on LinkedIn, or visit his website.
