Today, the oil and gas industry is facing scrutiny as global temperatures rise to the highest level since 1880.
The rapid growth of renewable energy in the UK and the closure of many coal-fired power stations has cut emissions by more than 70% since 1990, but there is still work to be done.
Action is needed urgently if the oil and gas industry is to drastically cut greenhouse gas emissions to reduce global warming and lessen the impact of climate change, reaching a net zero balance.
What is net zero?
Currently, our ecosystem is out of balance due to the amount of greenhouse gases released into our atmosphere daily. The world must work together to remove all man-made gases from our atmosphere to create an equal, net zero balance.
Under the Paris Agreement, the clear objective of net zero has been set. Put simply, this means that net emissions must be reduced to zero to control global temperatures which, in 2020, ranked the second warmest year within the 141-year record and continues to rise. This objective has already been officially acknowledged by countries around the globe, including Scotland who have declared the country will reach net zero emissions by 2045.
The UK is preparing to host the United Nations COP26 Climate Conference in Glasgow in November 2021, where all eyes will be on the efforts being made to turn these pledges into reality.
Deep Casing Tool’s role in the energy transition
Over the past decade, we have witnessed a shift in the needs and wants of investors, consumers and operators who engage with the oil and gas supply chain. In line with the energy transition, they now want to see clear commitment and action to help reduce emissions and reach a net zero target.
Global demand for a safe, secure energy supply means the oil and gas industry will continue to be a vital part of the energy mix. Changing the future of hydrocarbons and contributing to the net zero objective remains at the forefront of everything we do.
Our innovative technologies across the well life cycle are not only helping global operators reduce emissions on every drilling project, but also locate and access remaining reserves as efficiently as possible.
Our suite of solutions, including the TurboRunner™, TurboCaser™, MechLOK Drill Pipe Swivel, and the SelfLOK Flotation Device, ensure the successful landing of casings and completions to target depth (TD) on the first attempt, resolving age-old downhole problems and related issues around formation, fluid, and hole stability. Our Casing Cement Breaker, the newest addition to our suite of solutions, supports sustainable P&A and slot recovery, removing casing quickly and efficiently.
By using these tools operators can reduce the risk of failing to land casing on the first attempt, which would result in massive project time delays and rack up significant costs, up to £3m per project. And it’s not just costly; project overrun negatively impacts the environment too. The longer a project is delayed, the more manpower and equipment is required, and therefore more emissions are released.
By ensuring casings land on the first attempt, we help operators decarbonise operations across the well life cycle.
The impact of our technology
Our customers have recorded that the use of our TurboRunner™, TurboCaser™, MechLOK Drill Pipe Swivel, and the SelfLOK Flotation Device tools, each delivered an average project time saving of at least three days.
Therefore, this allows us to deliver a saving of approximately 900MT of CO2 emissions on an offshore platform, 210MT of CO2 emissions on an offshore semi-submersible platform and 90MT on a land rig, based on a saving of three days per project. When projects run on by weeks, if not months, these savings become considerable. To discover more about our tools click here.
Achieving your net zero targets
Here at Deep Casing Tools, we understand the ongoing challenges the energy transition journey can hold. That’s why we are dedicated to continuously developing innovative tools that will help oil and gas operators around the world to overcome these now, and in the future.
We’re here to help you achieve your net zero targets by delivering optimal time savings, cost efficiencies and emissions reduction across your onshore and offshore projects.
Looking to decarbonise your well life cycle operations? Get in touch with our global sales manager, Edward Kerr at edward@deepcasingtools.com and discover how we can apply our technology to assist with emissions reduction.