The launch at COP28 of the landmark Oil and Gas Decarbonisation Charter (OGDC), a global industry initiative dedicated to speeding up climate action and achieving high-scale impact across the oil and gas sectors, firmly put the spotlight on the millions of tonnes of methane (CH4) pumped into the atmosphere by oil and gas operations.
To date, 50 companies, representing more than 40 per cent of global oil production, have signed on to the OGDC, with National Oil Companies (NOC) representing over 60 per cent of signatories — the largest-ever number of NOCs to commit to a decarbonisation initiative.
The charter sets out to align with broader industry best practices to accelerate the decarbonisation of operations and aspires to implement current best practices by 2030 to reduce emission intensity collectively.
According to the International Energy Agency in the oil and gas sector, emissions can be reduced by over 75 per cent through the implementation of certain solutions — such as the Metal Expandable Packers (MEP) developed by Welltec.
The issue of well integrity, which has cost the industry significantly, is a major factor in methane emissions.
Technologies that address Sustained Casing Pressure (SCP) — which is a result of gas migration through compromised well casings — are particularly valuable.
Solutions such as Welltec’s MEPs demonstrate how innovative approaches can enhance well integrity and mitigate methane leakage.
With over 1,000 MEPs successfully deployed globally, the effectiveness of these solutions has been proven.
This includes ADNOC’s Bab field, where trials involving the deployment of 4 x 1214 MEP have demonstrated the technology’s capability to stop methane leakage.
These technological advancements represent a shift from traditional methods like cementing, which has been a standard practice for nearly a century.
The modern oil and gas industry, with its focus on environmental sustainability, requires solutions that are not only effective but also align with the urgent need to reduce greenhouse gas emissions.
The oil and gas industry is at a pivotal juncture, with the OGDC setting ambitious targets for emission reduction.
The availability of innovative technologies will play a crucial role in achieving these goals.
As the industry moves forward, it is clear that technology will be a key driver in reducing the environmental impact of oil and gas production, particularly in the area of methane emissions.
