Oil & Gas decarbonization future, Perspectives, Opportunities and Challenges (PART 02).

In the first part of the 3rd episode Mr. Reda Amrani has talked about the decarbonization and energy around the world stating how big Oil & Gas companies are taking bold actions in this context, the second part will be dedicated to look through the Algerian Oil & Gas market and what are the technological solutions that would be considered to reach a net zero goal.

If the world is to come anywhere near to meeting its climate-change goals, the oil and gas (O&G) industry will have to play a big part.

Published in 2020, a report by Mckinsey shows that the industry’s operations account for 9 % of all human-made greenhouse-gas emissions. In addition, it produces the fuels that create another 33 % of global emissions.

The O&G sector will play an important role in the global energy transition; how it will face that future is a matter of strategy. As transparency increases, so may expectations. Customers, employees, and investors are already starting to distinguish the leaders from the laggards. O&G companies that will developpe this side could find themselves better positioned for change. Advancement in technologies, the falling cost of digitalization, and the ever-widening connectivity of devices provide a real competition-beating opportunity to upstream O&G companies who play the digital revolution right. The lower-for-longer downturn and moderating operational gains have provided an extra incentive—or turned the opportunity into a need—for companies to save millions from their operating costs and, most importantly, make their $3.4 trillion asset base smarter and more efficient.