International Oil And Gas Industry – Role In Achieving Net-Zero Emissions.

International Oil And Gas Industry – Role In Achieving Net-Zero Emissions.

In the webinar, two international spokesmen answered questions posed by SPE International (Society of Petroleum Engineers). Below I have merged and slightly edited most of the comments. The moderator was Jasmin Shaikh of SPE. The speakers were Hisham Zubari, Senior Advisor, National Oil and Gas Authority, Bahrain, and Mike Gunningham, Chief Production Technologist, SGS Subsurface Consultancy, based in Holland. Note: Bahrain adjoins Saudi Arabia and is very close to Qatar and UAE (United Arab Emirates). Q. What is the meaning of net-zero in the energy transition? The concept is important since 75% of all greenhouse gas (GHG) emissions originate from fossil fuels. But the timeline of net-zero 2050 may be too soon, as replacing oil and gas operations too quickly would cause serious problems. The transition needs to be done responsibly: no-one should suffer – neither companies nor the economy. The industry wants not to be part of the problem but to be part of the solution, and even more – to lead to the solution. · UAE at 1. 3c/kWh has the lowest cost of electricity in the world (in the US cost is 13c/kWh). · UAE and Saudi Arabia are driving energy efficiency to higher levels using sophisticated