DNV GL, a premier firm which strives to help its customers by ushering in new standards for greener practices has come out with two papers recording the effect of various environmental degradation practices. These papers also go on to highlight new frameworks that can be adapted in order to help with environmental sustainability. The first paper, titled “A cost-efficient approach to reducing environmental impact” goes on to record the most effective approaches if environmentally sustainable practices while focusing on the cost mitigation factors. The second one, titled “CO2 abatement potential for upstream offshore installations” goes on to record the approaches and the effects of a real life case study for the reduction of CO2 emission with cost effective measures, which was implemented in an offshore production in the Norwegian Continental Shelf (NCS).
The framework proposed in titled “CO2 abatement potential for offshore upstream installations” can not only be customised according to specific company KPIs, but is compliant with the top global industry standards (IPIECA, API, and IOGP).IT is based on a 3 tier approach:
• Full statistical record of emissions and discharges including reporting and accounting
• Risk assessment and impact factor evaluation
• Environmental improvements with focus on cost-effective measures
It is also fully compliant with the sustainable development goals projected by the UN (including air and sea discharge) for particular offshore threats.
While speaking on the subject, Elisabeth Tørstad, CEO, DNV GL – Oil & Gas, said: “Cost management is a top priority for the industry right now, but it’s still possible to reduce our environmental footprint without breaking budgets. Cost-effective measures can be implemented across the lifecycle of assets and throughout the supply chain. Our papers will advise and support decisions in this critical area. Greater transparency by the industry on environmental risk management processes and sustainability reporting will give the sector much-needed credibility and speed up sustainability improvements as a business advantage.”
In fact, according to them, despite the practices being followed in NCS being top of the line at the present, by following the guidelines set forth, the CO2 emission can be cut down by as much as 29% more. This is especially important in context to the fact that new technologies would be used to harvest and store the oil and gas. Since new fields are projected to be the primary source (about 75% of the total volume) of the total worldwide oil production by 2040, it should be possible to control the global carbon footprint heavily.
DNV GL has also prepared a global map of the currently available information in the public domain about oil and gas producing geographical areas and facilities with a focus on the highest and the lowest amount of improvement possible in production and administration. This has created a dynamic benchmarked traffic light system detailing all aspects of performance measures (in context to social, environmental and economic points) which can be used to identify significant areas for improvement and thus providing a defined area for investment options.
With a focus on providing sustainable business models, DNV GL is dedicated to creating a greener and safer planet. It has branches in over 100 countries and has prominent global clients in the marine, energy, oil and gas and other sectors.
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