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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Panelists at the opening general session of the SPE Annual Technical Conference and Exhibition acknowledged the industry’s daunting challenge of meeting global demand while reducing its carbon footprint. -
Large-scale investment in carbon capture and methane-emission reduction tops the agenda of the Oil and Gas Carbon Initiative, an organization led by chief executives of several major oil and gas companies.
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The report reveals there is no single pathway to a decarbonized energy mix. A combination of energy sources—primarily gas and renewables—will be the quickest route to delivering a supply of affordable, decarbonized energy in the lead-up to the midcentury.
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The UK’s leading oil and gas industry body says the industry can reduce emissions while meeting the region’s energy demand.
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The Oil & Gas Technology Centre has announced it will create, in partnership with industry, a Net Zero Solution Centre to accelerate the development and deployment of technologies to decarbonize offshore operations and develop the UK continental shelf as the first net zero oil and gas basin.
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Mosaic’s technology uses chemistry to remove carbon dioxide from emissions sources, and the two firms will be looking at how to scale it for industrial use.
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It is “one of the world’s largest greenhouse gas mitigation projects ever undertaken by industry,” Chevron said in a news release.
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Using direct air capture in the near-term is critical if the technology is going to be affordable at a truly large scale in the coming decades. Enhanced oil recovery is the most-economic way to do that.
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BHP announced a 5-year, $400-million Climate Investment Program to develop technologies to reduce emissions from its operations as well as those generated from the use of its resources.
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In recent years, some effort has been made to use EOR techniques, particularly CO2 injection, to extract additional oil and gas from unconventional resources. This has the potential to change the dynamics (again) of oil production from these tight and difficult reservoirs.
