Delivering net zero should be ‘business as usual’
The acceleration of the energy transition is having a real effect on the oil and gas industry, with companies now focusing on where they can realise meaningful emissions reductions to ensure that they are on track to reach the ambitious 2050 targets.
Several schemes have been published this year, particularly in the UK, including the North Sea Transition Deal and its ambitious emissions reduction targets, OGUK’s Methane Action Plan, and the OGA’s update to the flaring and vent guidance. This, coupled with ever-changing legislation on the subject, means the task of achieving net zero is proving to be one of the greatest challenges ever faced by the energy industry.
Our clients are creating standalone energy transition teams, where emissions reduction is at the top of their agenda. As these teams tend to be very close to the day-to-day operations, it’s often challenging to objectively identify potential energy reduction opportunities. With asset managers having conflicting priorities, the challenge is not only how to bring net zero to the top of the agenda, but also how to make it ‘business as usual’ rather than a short-lived reactionary project.
The industry needs meaningful, cost-effective opportunities to reduce its emissions footprint, in order to help governments around the world achieve their net zero targets. That’s where our experts can help.
Our approach to thinking about the energy transition underpins our vision for a responsible energy future. We can be central to piecing this complex puzzle together. We have the industry and legislation knowledge, as well as a team of unrivalled experts with over 20 years of experience in the field, ready to create a cohesive integrated plan for your net zero ambitions.
Typically, this process begins by establishing an asset specific emissions profile followed by a series of workshops to identify emissions reduction opportunities. These findings are then ranked using our in-house expertise and innovative software tools to create a ‘master plan’ of potential opportunities and their associated cost and CO2 equivalent savings.
We typically identify energy saving opportunities of up to 20% during our offshore energy assessments. Our team will work closely with operational teams through site visits, workshops and ongoing communication to really understand a client’s emissions portfolio and their vision for a net zero future.
We need to be looking for a combination of ‘quick wins’ and longer-term solutions. This is the only way we will meet the ambitious targets that we have been set.
Xodus is a global leader in the field of emissions management. With over 200 global energy assessments in 20 countries under our belt, we are currently supporting four major operators with their holistic emissions management plans. We are planning a recruitment campaign which will eventually see the team tripling in size over the next 12 months.
Making net zero ‘business as usual’ is a challenge we are ready to deliver on.
Our clients trust us to deliver authoritative, in-depth advice and analysis, combining smart thinking with practical experience and an ability to describe and balance risk and financial pressures. If you would like more information about any of the above, please get in touch.