Oil and gas companies have been engaged in efforts to address the risks and opportunities of global climate change for many years. The Paris Agreement of COP21 in 2015 has led to a renewed focus and energy for action.
At the corporate level, integrated oil and gas companies are exploring options to reduce the carbon intensity of their products across the whole lifecycle to better prepare their businesses for a low-carbon future. Managing greenhouse-gas (GHG) emissions in upstream oil and gas production activities by improving efficiency and reducing flaring is one element of this.
This paper aims to highlight a pragmatic approach to managing carbon emissions from offshore installations operating on the UK Continental Shelf (UKCS) that helps maintain competitiveness and maximizes economic recovery in this mature basin. It does so by illustrating the key challenges and opportunities associated with managing carbon emissions in the UKCS.
The challenges are multiple and complex.
Despite the challenges, opportunities exist to reduce and avoid emissions in the UKCS through
The benefits of pursuing these pragmatic opportunities include
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