Brownfield Optimization: The Key To Unlocking Sustainable Oil and Gas?
While innovative solutions are being examined for decarbonization, there is one topic that is rarely emphasized as a key driver in the path toward a more-sustainable future—brownfield optimization.
The topic of sustainability within the oil and gas industry has dominated news agendas in recent years. As "Net Zero by 2050" goals loom closer, the sector is under greater pressure than ever to decarbonize operations and source oil and gas via more-sustainable methods.
With the energy transition continuing at pace, the growth of renewable energy has been exponential. Energy sources such as nuclear and wind are set to account for a greater portion of the energy mix. Renewables expenditure is also expected to double over the next 10 years to more than $1,300 billion per year, and grid expenditure is likely to exceed $1,000 billion per year in 2030.
However, oil and gas will undoubtedly play a crucial role in meeting global energy demand for the foreseeable future.