As the world seeks to reduce greenhouse-gas emissions, oil and gas companies need to step up as well. Drilling for fossil fuels will always involve some level of CO2 emissions, but oil and gas companies can do a better job of decarbonizing their upstream operations.
CO2 emissions can vary widely among companies and even among sites within a company. A poorly performing asset, such as a drilling rig, can emit seven times as much CO2 as a similar asset in a nearby oilfield.
Many upstream decarbonization projects can generate enough savings to pay for themselves. Rising carbon costs over time—due to taxes or other factors—will make the return on investment even more attractive.
To improve, companies should determine their current baseline of emissions, identify solutions for each asset, build an implementation plan, align with relevant partners, and execute the change.
The oil and gas industry can—and must—be part of a broader decarbonization effort. Read the full infographic here.
As the world seeks to reduce greenhouse-gas emissions, oil and gas companies need to step up as well. Drilling for fossil fuels will always involve some level of CO2 emissions, but companies can do a better job of decarbonizing their upstream oil and gas operations.
