Welcome to our landmark Issue 50 of Saudi Arabia Oil and Gas. Since our first issue in 2007 we have stayed true to our aim “to consider global EP Markets in a strategic manner and foster balanced coverage and commentary on the International Oilfield and key EP technologies.” See https://saudiarabiaoilandgas.com/pdfmags/saog1.pdf
Over the years we have covered some of the most important technological developments and events in the Saudi Arabian Oil and Gas Industry including the OPEC meeting in Riyadh, OGEP I and II and many of the Saudi SPE and DGS ATSE.
Now, our most urgent challenge is to reconcile our climate and our energy needs.
Saudi Arabia’s Minister of Energy, HRH Prince Abdul Aziz Bin Salman spoke about precisely this challenge and can be found on page 8 outlined as the four R’s – Reducing carbon emissions by utilizing energy efficiency, renewables, and nuclear power; Reusing & Recycling carbon emissions into useful products and removing emissions by carbon capture.
In that regard, Saudi Aramco has been working to reduce emissions since the 1970’s:
“The good news is that we are not starting from scratch. For example, at Saudi Aramco, our Master Gas System has ended associated gas flaring, eliminating about 100 million metric tons of CO₂ equivalent, every year since it was established in the 1970s.”
The service sector has also been working to reduce emissions for example, Schlumberger has committed to a science-based target to reduce emissions. https://sciencebasedtargets.org/
While Baker Hughes has “Energy Forward” which is a commitment to reducing oil and gas emissions. https://www.bakerhughes.com/company/energy-forward/road-netzero-our-commitment-reducing-oil-and-gas-emissions
Of course, that will be insufficient for advocates of a future free of fossil-fuels. However, it is important to remember that most petroleum demand remains inelastic. It is equally important to look behind the scenes to see that electricity is not produced solely by solar, wind or hydro power but fossil fuels particularly gas are a part of the power generation process. This is discussed in the article “Renewable Energy”.
But that doesn’t mean complacency everyone can play their part. It may mean re-evaluating our energy needs and our “comfort” lifestyle.Think legacy.
We at Saudi Arabia Oil and Gas have reduced our carbon emissions and waste management by digital transformation so that our publication is digital. We will print special editions from time to time to cover specific events.
So this means making changes and becoming more efficient as every driller knows, it is good to save trips!
CEO and Founder EPRasheed