ABERDEEN-headquartered energy consultancy Xodus has revealed it has completed a benchmarking emissions review for a major Middle East oil operator’s full asset portfolio, demonstrating ‘significant’ emissions and cost savings.
The team identified more than 100 emissions reduction opportunities as a result of the site studies, representing a minimum 20% reduction in total CO2 equivalent. Xodus explained that a third of the improvements can be ‘easily’ implemented with ‘low or no capital expenditure’ required. The complete reduction potential would deliver overall savings of £7 million to £11 million annually.
The six-month project reviewed scope 1, 2 and 3 emissions. Scope 1 covers direct emissions at the production stage, scope 2 covers indirect emissions from generation, while scope 3 covers all other indirect emissions.
The Xodus team also reviewed national and international guidance, legislation and policy with existing internal processes, identifying best practices, peer benchmarking and recommendations for the development of an internal emissions and energy efficiency framework.
Natasha Howlett, emissions lead at Xodus, said, “The comprehensive review of greenhouse gas emissions gives our client a clear understanding of their emissions baseline along with a robust hopper of improvement opportunities and how best to prioritise these for implementation in order to decarbonise a portfolio of assets. This exercise has demonstrated this client’s ambitions as a decarbonisation leader for the region.
“Oil and gas operators are looking to responsibly reduce emissions and ultimately achieve net zero. Benchmarking and opportunity identification are vital first steps in order to ensure that this complex journey to net zero is manageable and will deliver big impacts when it comes to cutting both emissions and costs.”