• Upstream
  • Pipelines & Transport
  • Downstream
Oil&Gas Advancement
  • Home
  • News
    South Africa Proposes

    South Africa Proposes US LNG Purchase Deal for 10 Years

    UAE Energy Investments in the US

    UAE Energy Investments in the US to Reach $440B by 2035

    IEA Warns of Global Oil Demand

    IEA Warns of Global Oil Demand Slowdown in 2025

    Trans Mountain Pipeline Expansion Boosts China Oil Trade

    Trans Mountain Pipeline Expansion Boosts China Oil Trade

    Oil And Gas Sector in Syria

    Oil And Gas Sector in Syria Looks forward to Resurgence

    OPEC

    OPEC+ Stretches Per Day Oil Output of Saudi Arabia

    Production Surge

    Effect of OPEC+ Production Surge on US Crude Oil Prices

    US Radar

    Those Buying Oil or Petrochemicals from Iran on US Radar

    Raise Asia Oil Prices

    OPEC+ Decision Pushes Saudi Arabia to Raise Asia Oil Prices

  • Projects
    South Africa Proposes

    South Africa Proposes US LNG Purchase Deal for 10 Years

    Alaska LNG

    Glenfarne Announces Over $115 Billion of Strategic Partner Interest for Alaska LNG

    UAE Energy Investments in the US

    UAE Energy Investments in the US to Reach $440B by 2035

    agreements with US companies

    Aramco announces 34 MoUs and agreements with US companies

    Future-proofing-gas-sector

    Future-proofing Gas Sector for Efficiency and Sustainability

    South-Africa-Oil-and-Gas-Exploration

    South Africa Speeding-up its Oil and Gas Exploration

    Upstream-Exploration

    High-Risk Geographies in Upstream Exploration and Challenges

    Offshore-Drilling

    Innovations Driving the Future of Offshore Drilling

    Gato-do-Mato

    Shell Approves Gato do Mato Project in Brazil

  • Whitepapers

    OGA 2017 Post Show Report

    US Polyethylene Export Market Report 2017-2020

    US Polyethylene Export Market Report 2017-2020

    Embedded SSD Flash Management

    Enterprise SSD: More Than Just a New Kind of Hard Drive

    Efficiency, Visibility and Reliability Keys to lower costs and greater profitability in oil and gas operations

    Don’t Miss the Unconventional Resource Revolution’s Next Wave

    Better Safety, Better Business: Maintain Compliance and Drive Revenue: Put All of Your Data to Work

    Breaking the Application Barrier: Why Data is the Most Valuable Asset in the Oil and Gas Industry

    Drilling Optimization Through Advanced Analytics Using Historical and Real-Time Data

  • Press Releases
    Alaska LNG

    Glenfarne Announces Over $115 Billion of Strategic Partner Interest for Alaska LNG

    agreements with US companies

    Aramco announces 34 MoUs and agreements with US companies

    Sinopec Sets New Vertical Well Depth

    Sinopec Sets New Vertical Well Depth Record of 5,300 Meters

    Jubail Asset Integrity

    Jubail to Host the 3rd Asset Integrity and Process Safety Conference & Exhibition 2025

    IPTC 2025 Launched: Driving Innovation, Sustainability, and Excellence in Energy

    Ocean Business announces exhibitor list for 2025 show

    Ocean Business 2025 conference programme announced

    Engine No. 1, Chevron And GE Vernova To Power U.S. Data Centers

    Baker Hughes Secures Significant Gas Technology Order for Third Expansion Phase of Aramco’s Jafurah Gas Field

  • Market Reports
    HDPE Market in Oil and Gas

    HDPE Market in Oil and Gas: Trends and Global Forecast

    Top 5 Oil and Gas Sector Trends that are Active in 2025

    Oil-and-Gas-Analytics

    Oil and Gas Analytics Market Growth Trends and Forecast

    Gas-Transportation

    Transport Capacity – Key to Gas Sector Growth in India

    Offshore-Drilling

    Namibia Showcases its Offshore Drilling Activities

    Global-Oil

    Demand for Global Oil to Grow to Almost 104 mb/d in 2025

    ExxonMobil to sell Norway upstream operations for $4.5 billion

    ExxonMobil completes acquisition of Pioneer Natural Resources

    Ithaca Energy unit to acquire Chevron’s Central North Sea assets

    ExxonMobil doubles Permian footprint after finalizing Pioneer acquisition

    CNOOC

    Petrobras achieves second highest profit in history in 2023: R$ 124.6 billion

  • Events
  • Contact Us
No Result
View All Result
  • Home
  • News
    South Africa Proposes

    South Africa Proposes US LNG Purchase Deal for 10 Years

    UAE Energy Investments in the US

    UAE Energy Investments in the US to Reach $440B by 2035

    IEA Warns of Global Oil Demand

    IEA Warns of Global Oil Demand Slowdown in 2025

    Trans Mountain Pipeline Expansion Boosts China Oil Trade

    Trans Mountain Pipeline Expansion Boosts China Oil Trade

    Oil And Gas Sector in Syria

    Oil And Gas Sector in Syria Looks forward to Resurgence

    OPEC

    OPEC+ Stretches Per Day Oil Output of Saudi Arabia

    Production Surge

    Effect of OPEC+ Production Surge on US Crude Oil Prices

    US Radar

    Those Buying Oil or Petrochemicals from Iran on US Radar

    Raise Asia Oil Prices

    OPEC+ Decision Pushes Saudi Arabia to Raise Asia Oil Prices

  • Projects
    South Africa Proposes

    South Africa Proposes US LNG Purchase Deal for 10 Years

    Alaska LNG

    Glenfarne Announces Over $115 Billion of Strategic Partner Interest for Alaska LNG

    UAE Energy Investments in the US

    UAE Energy Investments in the US to Reach $440B by 2035

    agreements with US companies

    Aramco announces 34 MoUs and agreements with US companies

    Future-proofing-gas-sector

    Future-proofing Gas Sector for Efficiency and Sustainability

    South-Africa-Oil-and-Gas-Exploration

    South Africa Speeding-up its Oil and Gas Exploration

    Upstream-Exploration

    High-Risk Geographies in Upstream Exploration and Challenges

    Offshore-Drilling

    Innovations Driving the Future of Offshore Drilling

    Gato-do-Mato

    Shell Approves Gato do Mato Project in Brazil

  • Whitepapers

    OGA 2017 Post Show Report

    US Polyethylene Export Market Report 2017-2020

    US Polyethylene Export Market Report 2017-2020

    Embedded SSD Flash Management

    Enterprise SSD: More Than Just a New Kind of Hard Drive

    Efficiency, Visibility and Reliability Keys to lower costs and greater profitability in oil and gas operations

    Don’t Miss the Unconventional Resource Revolution’s Next Wave

    Better Safety, Better Business: Maintain Compliance and Drive Revenue: Put All of Your Data to Work

    Breaking the Application Barrier: Why Data is the Most Valuable Asset in the Oil and Gas Industry

    Drilling Optimization Through Advanced Analytics Using Historical and Real-Time Data

  • Press Releases
    Alaska LNG

    Glenfarne Announces Over $115 Billion of Strategic Partner Interest for Alaska LNG

    agreements with US companies

    Aramco announces 34 MoUs and agreements with US companies

    Sinopec Sets New Vertical Well Depth

    Sinopec Sets New Vertical Well Depth Record of 5,300 Meters

    Jubail Asset Integrity

    Jubail to Host the 3rd Asset Integrity and Process Safety Conference & Exhibition 2025

    IPTC 2025 Launched: Driving Innovation, Sustainability, and Excellence in Energy

    Ocean Business announces exhibitor list for 2025 show

    Ocean Business 2025 conference programme announced

    Engine No. 1, Chevron And GE Vernova To Power U.S. Data Centers

    Baker Hughes Secures Significant Gas Technology Order for Third Expansion Phase of Aramco’s Jafurah Gas Field

  • Market Reports
    HDPE Market in Oil and Gas

    HDPE Market in Oil and Gas: Trends and Global Forecast

    Top 5 Oil and Gas Sector Trends that are Active in 2025

    Oil-and-Gas-Analytics

    Oil and Gas Analytics Market Growth Trends and Forecast

    Gas-Transportation

    Transport Capacity – Key to Gas Sector Growth in India

    Offshore-Drilling

    Namibia Showcases its Offshore Drilling Activities

    Global-Oil

    Demand for Global Oil to Grow to Almost 104 mb/d in 2025

    ExxonMobil to sell Norway upstream operations for $4.5 billion

    ExxonMobil completes acquisition of Pioneer Natural Resources

    Ithaca Energy unit to acquire Chevron’s Central North Sea assets

    ExxonMobil doubles Permian footprint after finalizing Pioneer acquisition

    CNOOC

    Petrobras achieves second highest profit in history in 2023: R$ 124.6 billion

  • Events
  • Contact Us
No Result
View All Result
Oil&Gas Advancement
No Result
View All Result
Home Downstream

North Sea Oil & Gas Operators Push Decarbonization Standards

venkat by venkat
May 30, 2024
in Downstream, News
0

As the global energy transition speed keeps witnessing growth, the North Sea Transition Authority- NSTA, which is the UK regulator, has gone on to spotlight almost £3 billion pertaining to emissions reduction schemes that have been proposed by North Sea companies at the yearly performance review concerning Britain’s top 20 oil as well as gas operators.

While putting forth that the North Sea operators can very well go on to invest almost £3 billion across 14 prominent projects that are capable of cutting almost 32 million tonnes of lifetime CO2 emissions coming from their production activities, NSTA has gone on to highlight that this level happens to be much greater than the forecasted yearly emission in London in 2021.

The fact is that as the oil and gas operators go on to take action as far as emissions reduction is concerned so as to protect the sector’s future and also sustain production, 14 projects are most likely to entail the usage of low-carbon power on the platform, the installation of tech crafted to eradicate the routine flaring, as well as venting and also hydrogen.

Apparently, these proposed developments, which may as well go live between 2024 and 2030 on new as well as existing projects, are most likely going to make a major contribution when it comes to achieving the industry’s emissions reduction objectives.

As the final investment decisions- FIDs happen to be secured for less than half of such projects, there is much more work that requires to be done, and hence the NSTA anticipates the operators to go ahead with all of them and at the same time also come up with more schemes in relation to emissions reduction in the years to come.

Due to its data as well as benchmarking insights at the yearly Tier Zero meeting, NSTA looked out to show the operators how they compare to each other so as to showcase good practices and also drive enhancements while at the same time giving out the short-term priorities that happen to include emissions reduction and also well decommissioning in 2024.

It is worth noting that the NSTA went on to publish the OGA Plan, which is focused on emissions reduction so as to build on the present decarbonization objectives and also put the operators on the right track so as to touch net zero, thereby stressing the need to make the production less intensive in connection with emissions and also asking for a group action and also a complete stoppage to the routine venting and flaring by 2030.

As oil and gas happen to meet almost three-quarters of the energy needs of the UK, Britain is anticipated to remain a net importer until around 2050, even though demand sees a dip. Notably, UK Continental Shelf production saw a dip of 11% in 2023, a decline due to outages that were not planned, while production efficiency was 77%, which was down by one percentage point.

In light of this, the operators happened to be reminded of the long-remaining 80% aim and stressed upon redoubling the efforts so as to tackle the root causes of the non-dependability of certain assets.

The UK regulator has gone on to take the opportunity to promote well interventions like a cost-effective way in order to boost production as the intervention count dipped from 450 to 402 in 2023.

In the meeting, the stamp of approval by the NSTA for eight oil and gas developments since 2023 went on to be highlighted. These projects that happen to target 430 million barrels and need £4.4 billion of funding are most likely to enhance the position of Britain’s energy, create revenues from tax, and also come up with supply chain jobs.

While the operators happen to be working on 14 oil and gas projects that are capable of giving out over 750 million barrels, the UK regulator highlights that all the proposals have to go through effective net-zero evaluation so as to make sure that they happen to be compatible with the net-zero targets.

Although the industry happened to curb its production emissions by 23% from 2018 and 2022, with preliminary data suggesting more drop in 2023, the NSTA goes on to believes a risk remains that the sector is not going to deliver on its commitments so as to cut emissions by 50% by 2030 and by 90% by 2040, on its way to net zero by 2050, sans further abatement steps.

The Chief Executive of NSTA, Stuart Payne, said that while the argument for a consistent domestic production happens to be strong, it stands up only if the operations go on to get cleaner. The fact is that the UK happens to be having a world-class workforce that could be able to innovate, adapt, and deliver intricate tech solutions.

As the North Sea basing consistently matures, more wells are going to permanently stop producing and hence will need plugging as well as abandonment, and so the UK regulator remarked to the oil and gas sector players to keep in sync with the well decommissioning obligations so as to retain the support pertaining to their operations, as there has been a mixed compliance in the years that have gone by with licensing going on to seek deferrals in spite of guidance on the well-decommissioning.

Keeping this in mind, the NSTA happened to write to licenses in November 2023 to go ahead and warn that the ones that are unable to comply would be held. Britain’s regulator also happens to be spearheading a project so as to identify the UKCS wells that could be decommissioned between 2026 and 2030 and also evaluate the supply chain capacity that’s needed to undertake the job in a cost-effective and timely way. Furthermore, the insights that are collected will be expected to guide the engagement of the regulator with the sector so as to promote partnership and, wherever apt help with well decommissioning campaigns that happen to involve numerous operators as well as fields. The approach is said to save time and money and, at the same time, cut emissions. Payne went on to conclude that operators should make sure to routinely look out for opportunities so as to give out prominent emission cuts, as this is indeed important, so as to preserve the broad support for the industry, hence helping it to go for future barrels.

Previous Post

CapturePoint Announces Agreements with Energy Transfer for Carbon Capture and Storage in Louisiana

Next Post

Net Zero Operations Adoption Altering Businesses For Good

Related Posts

South Africa Proposes
Africa

South Africa Proposes US LNG Purchase Deal for 10 Years

June 4, 2025
HDPE Market in Oil and Gas
Asia Pacific

HDPE Market in Oil and Gas: Trends and Global Forecast

May 26, 2025
Scope 1 2Emission Reductions
Exploration Development

Scope 1 & 2 Emission Reductions with Methane Detection Tech

May 26, 2025
UAE Energy Investments in the US
America

UAE Energy Investments in the US to Reach $440B by 2035

May 21, 2025
IEA Warns of Global Oil Demand
America

IEA Warns of Global Oil Demand Slowdown in 2025

May 21, 2025
Trans Mountain Pipeline Expansion Boosts China Oil Trade
America

Trans Mountain Pipeline Expansion Boosts China Oil Trade

May 21, 2025
Next Post

Net Zero Operations Adoption Altering Businesses For Good

About Us

Oil and Gas Advancement is a leading information centric website providing latest information and happenings within the industry. Featuring the latest news and developments within the Upstream, Midstream and Downstream Industries. Oil and Gas Advancement runs with an objective to provide a one stop knowledge driven content to our reader and subscribers in various forms like news, projects, upcoming events.

Subscribe Us

Resources

  • Advertise with us
  • Contact Us
  • Newsletter Archive
  • Download Mediapack

System

  • Search
  • Site Map
  • RSS Feed
  • Upstream
  • Pipelines & Transport
  • Downstream

© 2018 Copyright Valuemediaservices 2018 All rights reserved.

No Result
View All Result
  • Home
  • News
  • Projects
  • Whitepapers
  • Press Releases
  • Market Reports
  • Events
  • Contact Us

© 2018 Copyright Valuemediaservices 2018 All rights reserved.