Schlumberger has announced the launch of its new business dedicated to eliminate the oil and gas industry’s routine flaring and methane emissions.
Schlumberger End-to-end Emissions Solutions (SEES) aims to help operators to identify, quantify, report and eliminate emissions as they work towards their decarbonisation goals.
Methane and flare emissions are said to currently account for more than 60% of direct – Scope 1 and 2 – greenhouse gas emissions from the industry.
Methane is a potent greenhouse gas – Over a 20-year period, one ton of emitted methane causes as much global warming as 84 tons of emitted carbon dioxide.
The potency means that any methane emitted to the atmosphere causes climate-related economic damage at a price 10 times higher than the typical market price for selling that gas, according to Schlumberger.
SEES combines the company’s measurement and planning experience, with the ability to assess and implement emerging technology, foundational data, AI and digital capabilities and the means to scale and deploy anywhere in the world.
Demos Pafitis, Schlumberger Chief Technology Officer said: “We have created SEES specifically to help our customers deal with one of the most pressing issues of climate change: the urgent need to cut methane emissions. Due to its potency as a GHG and its major share of the industry’s overall operational emissions, tackling methane emissions will make a significant impact.”