To meet sustainability targets, the oil and gas industry has to change its ways, says DNV GL, which has published two papers that are to help the industry reduce its environmental footprint even as it is under significant cost pressure.
The paper "A Cost-efficient Approach to Reducing Environmental Impact" provides a framework for the industry on how to improve environmental sustainability by identifying the most cost-efficient mitigating measures. To demonstrate how the abatement framework can work in practice, DNV GL has also carried out a case study for an offshore asset.
The second paper, "CO2 Abatement Potential for Offshore Upstream Installations" demonstrates the results of a comprehensive case study on how CO2 emissions can be reduced through the implementation of a number of cost-effective measures for offshore production on the Norwegian Continental Shelf (NCS).
Both papers can be downloaded from the DNV GL website.
Traffic Light System
In order to ascertain the status of sustainability efforts across oil and gas producing regions and current field developments, DNV GL has also developed a map based on publicly available databases and literature. The Resource Map identifies regions and field developments with the most and least potential for improvement on governance and production efficiency.
The results are presented in a traffic light system detailing economic, environmental and social performance criteria of resources and production in regions. The results of the benchmark are dynamic and can be used to identify areas for sustainability improvements as well as enable a wider basis for investments decisions.
