On the 18th June, Capterio’s CEO Mark Davis led a discussion kindly hosted by the UK’s PESGB (Petroleum Exploration Society of Great Britain).
The presentation, titled “Flaring: the $20 billion decarbonisation lever”, was part of an ongoing discussion led by Neil Frewin (PESGB’s President) on the role of geoscience in the energy transition. Flaring is a major decarbonisation lever for the oil and industry (which not only reduces emissions, but also creates value and improves reputations).
Geoscientists have a number of ways that they can help to reduce flaring, as the lively discussion illustrated.
- Firstly, geoscientists can work ever-more closely with surface and development colleagues to ensure planning is optimal around production, reservoir and fluid performance and facilities are optmised.
- Secondly, geoscientists are pivotal into understanding the opportunity to dispose of flared gas in the subsurface (through disposal, storage, CCS or EOR).
- Thirdly, geoscientists can offer creative, constructive and conscious challenge throughout the company and ensure that not only the “difficult questions” are asked, but also that the holistic and integrative thinking that is core to the discipline (akin to “play-based exploration”) are used to identify all possible flare capture opportunities.
Capterio looks forward to furthering lively discussions on this important topic.
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