Push towards renewables.
Following the conclusion of the COP 26 summit, we have again seen a number of commitments from governments and multinational corporations to reduce their CO2 emissions and strive toward Net-Zero.
For energy companies, particularly those involved in oil and gas production, there will be a
requirement to invest resources into the development of renewable energy sources. However, oil and gas production is not going to disappear, which means it’s vital that companies invest in efforts to decarbonise their existing and future operations.
Ambitious carbon reduction targets.
Governments and organisations all around the world are racing to cut carbon emissions and meet their climate change targets.
If we take the UK as an example, the government, in its North Sea Transition Deal, has set the oil and gas industry targets to reduce emissions by 10% by 2025, 25% by 2027 and 50% by 2030.
These ambitious carbon reduction targets will be supported by joint government and private investment of up to £16bn by 2030. Most oil and gas producers are already taking action to lower carbon dioxide output, but there is still a long way to go to meet environmental targets.
Decarbonisation and renewable energy transition.
The ability to decarbonise existing industry is going to be vital in achieving Net-Zero. Many operators are already taking steps to reduce emissions related to oil and gas production through decarbonisation measures such as electrification or CCUS.
Decarbonisation is being achieved by increasing the share of low-carbon energy sources, particularly renewables, and reducing the use of fossil fuels. Governments are relying on decarbonisation measures to reduce emissions and achieve their climate change targets.
For instance, the UK plans to decarbonise the electricity grid by 2035. However, transitioning to low carbon energy sources is going to be a monumental challenge, particularly for oil and gas producers. Decarbonisation plans are often complex and require significant amounts of time and money.
Geospatial data to support your decarbonisation goals.
So where does MapStand fit in?
MapStand provides a single source of geospatial data covering the energy sector from oil and gas to renewables and energy infrastructure. Oil and gas companies can gain a complete overview of the energy sector and make data-driven decisions that will support energy transition and help them achieve their decarbonisation goals.
Utilising energy data to decarbonise the existing industry.
The UK’s oil and gas industry is well-established and the ability to decarbonise existing industry is going to be vital in achieving Net-Zero targets.
Integrated geospatial data gives oil and gas producers valuable insight into the energy industry, particularly when it comes to energy transition and renewable energy. This enables producers to make sustainable business decisions that will lower carbon output and support green energy.
Geospatial data allows oil and gas producers to identify the location of power cables and wind farms in relation to their operations when considering platform electrification:
Geospatial data can help energy producers reduce carbon emissions by identifying opportunities to produce and transport green and blue hydrogen:
Geospatial data can also be used to support more complex strategic analysis such as linking onshore CO2 clusters with offshore aquifers for CCUS. Below, is an example of projects being undertaken through Zero Carbon Humber and Net Zero Teeside.
Geospatial data is critical to decarbonisation.
Decarbonisation is complex and decarbonising the oil and gas industry will take time and money. Many measures require years of geospatial data and expertise established within the oil and gas industry to be integrated alongside the ever-growing renewables datasets.
Oil and gas companies can gain value even from basic spatial data. For instance, to understand the location of wind farms in relation to their operations when considering electrification or when linking onshore CO2 clusters with offshore aquifers for CCUS.
Oil and gas data can also support the renewable sector, such as helping wind farm operators understand oil and gas licence operators and other stakeholders in their area, or helping renewable energy companies identify which platforms have a helipad and accommodation for wind turbine construction and maintenance crew to be based.
MapStand offers a single source of geospatial data.
Whatever the application, it is clear that there is a requirement for geospatial data to be accessible in a single common platform. MapStand’s datasets can help oil and gas producers make sustainable business decisions, navigate energy transition, and achieve their decarbonisation goals.
Create an account on our MapStand Community if you would like to start accessing geospatial energy data or talk to one of our experts.