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Norway has over decades developed technologies to decarbonise the petroleum sector. NORWEP has launched an initiative named “Lower Emissions Oil and Gas Production” to illustrate the lower emission solutions that NORWEP partners can contribute to the global decarbonisation of the oil and gas sector.
Oil and gas account for 42% of all man-made greenhouse gases, with oil and gas operations (scope 1 & 2 emissions) accounting for 9%. However, global energy demand will result in significant volumes of hydrocarbons being produced up to and beyond 2050. Simulations show that under a two-degree temperature increase scenario, the world will have produced roughly the same amount of hydrocarbons between 2022 and 2050 as it did from 1980 to today. This emphasises that hydrocarbons must be extracted at lower emissions.
Environmental and climate considerations have been an integral part of Norway’s policy for the petroleum industry for many decades. To meet NCS requirements and regulations, lower emission technologies and services have been developed that in sum have enabled the carbon footprint of hydrocarbons produced to be one of the lowest in the world. Made available to the world, these solutions may contribute to a significant reduction in GHG emissions from the world’s oil and gas production in the interim transitioning to a net-zero energy balance.
As the international oil and gas industry is starting to realise that pro-active and decisive actions are needed, NORWEP has launched the “Lower Emissions Oil and Gas Production” initiative targeted at addressing this market need and opportunity, where the aim is to
This initiative has initially been piloted with selected partners towards potential clients in the UK and Malaysia with very positive feedback, generating a number of B2B opportunities for partners with operators in both countries. In 2022 the initiative will be rolled out in other countries and markets globally, with all Regional Directors and Local Advisors fully briefed and having access to a Toolkit of materials developed specifically for the initiative.
NORWEP is now inviting all partner companies that have solutions that directly or indirectly can contribute to reducing emissions and are willing to invest time into developing unique value propositions and targeted presentations with clear focus on reducing GHG emissions.