Panel: A Vision of the Offshore Petroleum Industry in 2050
The most recent Intergovernmental Panel on Climate Change report1. has clearly identified global warming and associated climate change as an existential threat that can be mitigated by reducing emissions of greenhouse gasses. Offshore technologies will help shape the petroleum industry in the coming 28 years as it moves towards carbon neutrality (no net green-house gas emissions to the atmosphere).
The future the offshore petroleum industry will depend on political, commercial and technological factors. There is also an interdependency between each of these factors, for example science and technology, through climate modelling, has already been the driver in setting the political agenda around climate change. Technology and technology development will continue to hold centre stage in the future.
Relevant technologies include CCTUS (carbon capture, transport, utilisation, sequestration), blue hydrogen and ammonia transport and production, power generation to grid, and fugitive methane emission reduction and renewables.
Sources from Offshore Technology Asia (OTC) 2022 – https://2022.otcasia.org/otc-asia-live