Decarbonization
A DNV report on decarbonization says the Middle East and North Africa region is expected to become the world’s largest hydrogen exporter by 2060 while maintaining a dominant position in global oil and gas markets.
A final investment decision is also expected by the end of the year for the company’s first low-carbon data center project.
The North Sea Transition Authority has updated its UKCS Well Applications and Consents Guidance to include the process for applying for consent to drill carbon-storage wells.
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The project aims to identify risks and conduct operability and safety evaluations for the world’s first attempt at capturing carbon dioxide at sea. -
Tellurian CEO Meg Gentle outlined how the US LNG market should address expected tight market conditions through 2025 while managing a transition to a carbon neutral environment.
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SponsoredPolymer flooding increases the RF up to 20% at $3 to $6 per extra bbl of oil. It also contributes towards reducing CO2 emission by 3–6 times per bbl. It’s a proven technology with more than 300 projects worldwide. SNF offers modular plug and pump facilities connected to existing infrastructure.
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Through a combination of reducing operational emissions and offsetting projects, the shale-gas producer has set a new benchmark for its sector.
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Oxy Low Carbon Ventures and Rusheen Capital Management have formed a development company to finance the world’s largest carbon-dioxide-capturing facility using Carbon Engineering’s direct air capture technology.
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Zap Energy will use Chevron’s investment to develop its technology, a next-generation modular nuclear reactor with an aim toward cost-effective, flexible, and commercially scalable fusion.
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The offshore drilling contractor’s latest effort to curb emissions relies on technology developed during the US space shuttle program and could become commercial by 2022.
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Intertek’s program aims to provide validation of the carbon impact of producing 1 BOE across an entire production portfolio, in aggregate, or by field.
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Hydrogen from fossil fuels is not only an easier way to pivot to clean energy than going full-on renewables; it could also establish new businesses and generate tremendous revenue by leveraging the oil and gas industry’s existing knowledge and expertise.
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Despite the global downturn, the long-term transition to net zero presents a major opportunity to create new multibillion industries based around the North Sea. Cross-sector collaboration and major state/private sector intervention, together with strong leadership, will be key.
