Walking the Talk on Methane Emissions?
....is Obfuscation a key skill for some Majors and E&Ps?
Friday, July 23, 2021
Webinar
Online
This webinar looks at how oil and gas companies are measuring methane emissions from their own operations, which is a large part of their overall Greenhous gas emissions.
This is a greenhouse gas emission category which many people think is the most easy to fix, because it saves money, or at least can be done at no net cost.
That was a conclusion to a March Economist article. It said methane, sometimes called carbon dioxide on steroids, is responsible for 23% of the rise in temperatures since pre-industrial times.
It quoted the International Energy Agency estimating that 40% of methane emissions from fossil fuels, equivalent to 9% of all human methane emissions, can be eliminated at no net cost for firms.
So if you think we've been too hot this week, that means we can cut 2 per cent of that (0.09 x 0.23) for no net cost.
Not every oil and gas company has a plan to measure these directly - and many companies are still using engineering estimates.
There's two groups of sensing technologies,
"Bottom up" - which is sensors on the ground or with drones,
And "top down," which is satellites,
They both drive each other, in that the satellite images can show where you want to do ground / drone based sensing,
And the ground / drone based sensing can help calibrate the data from satellites.
But to put it all together, you need to build models, which gets quite similar to building subsurface models,
So we’ll hear more about it in David’s talk.
Talk Description
Over the last 3 months have reviewed the 2020 Annual Reports (and where they exist, Sustainability Reports) of:
BP, ENI, Equinor, Repsol, Shell and Total
and
Diversified Gas & Oil, Energean, Jadestone Energy, Savannah Energy, SEPLAT Petroleum, Serica Energy and Wentworth Resources
to see what they say about GHG Emissions, Executive Remuneration
Overall, I would say of the companies in this list - with the exception of 3 of them - there is a gap - for some it is a gulf - between stated Purpose and short-term Actions. |
David Bamford is well known around the oil & gas industry both as an explorer and a geophysicist. He retired from BP plc in 2003, his last four positions being Chief Geophysicist (1990-1995), Business Unit Leader (General Manager) for first West Africa and then Norway (1995-1999), and finally Head of Exploration until 2003.
He has undertaken asset and company valuation projects for investment banks, hedge funds and small oil companies. He has been a board director of Tullow Oil and Premier Oil.
He holds a Physics degree from the University of Bristol and a Ph.D in Geological Sciences from the University of Birmingham.
Future Energy Partners Ltd
Future Energy Partners (FEP) is a unique oil and gas advisory service which prides itself on technic
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