300,000t in carbon emissions saved
Recently, ABB has published another of its ‘Energy Transition Equation’ reports that shows how industrial customers can reduce carbon emissions and manage the energy transition for a more sustainable future.
Based on nine months of research and modeling, the report highlights how early adoption and integration of automation, digitalisation, and electrification technologies to enable autonomous operations can deliver savings of over 300,000t of carbon emissions per annum for offshore oil and gas sites (approximately 25% reduction).
“The world needs more energy”, says Brandon Spencer, President, ABB Energy Industries. “Even in the most advanced scenarios for renewables, we will still need to invest in oil and gas infrastructure to ensure availa-bility and stability of supply to meet our energy needs. Now is the time to make that investment count, using the right technology to ensure energy production from hydrocarbons is the most sustainable it can be, as we continue to develop renewables.”
The report also demonstrates how companies can realise production efficiencies of up to USD30 million in annual savings, while delivering net revenue increases of up to USD120,000, thanks to autonomous operations. A key part of this is redeploying companies’ offshore workforces, moving them from hazardous roles into new ones onshore. In doing so, employers can offer safer working environments, a better work-life balance and fill industry talents gaps by reskilling employees to support a data-led approach to oil and gas exploration and production. In 2021, ABB reduced its own CO2 emissions by 39% as part of its Sustainability Strategy 2030 and expects to be fully carbon neutral by decade’s end. The strategy details how ABB will support its global customers in reducing their annual CO2 emissions by at least 100 megatons by 2030.
The report’s economic modeling was undertaken by independent economist Steve Lucas of Developmental Economics, in conjunction with ABB Energy Industries and supported with desktop research of academic and industry sources.