SLB (NYSE: SLB) today announced that its End-to-End Emissions Solutions (SEES) division has been selected by integrated energy company Eni (NYSE: E) to provide comprehensive emissions measurement and reporting plans for Eni’s global assets volatile methane compounds.
The project, which has already started, is based on the reporting standards of the Oil & Gas Methane Partnership 2.0 (OGMP 2.0), the flagship program of the United Nations Environment Program (UNEP) for reporting and reducing methane emissions. The project objective is for Eni to have an accurate overview of its emissions of volatile methane compounds to enable transparent reporting and support Eni’s strategic efforts to reduce these emissions. Methane is a powerful greenhouse gas (GHG) that has up to 84 times greater impact on climate change than carbon dioxide over a 20-year period and accounts for around half of operational emissions in the oil and gas sector.
“Accuracy, speed and scale of measurements are three critical elements for the oil and gas industry to reduce their methane emissions,” said Kahina Abdeli-Galinier, Emissions Business Director at SLB. “In working with Eni, we leverage our extensive expertise in OGMP 2.0 requirements and our global footprint to provide Eni with accurate, reliable methane readings and reports for its onshore and offshore operations within a short time frame of just six months “For Eni, as well as other manufacturing companies, the rapid scalability of this capability will provide the insights needed to make rapid progress in combating emissions of volatile methane compounds.”
SEES will carry out measurements and simulations of emissions at source at several Eni sites in Africa, Asia, Europe and North America, in accordance with the requirements of OGMP 2.0. SLB will compile and analyze the data and support Eni in reporting source-level emissions to the OGMP.
In advance of the project, SLB evaluated optimal measurement technologies for identifying and quantifying methane emissions and was thus able to recommend solutions that best meet the requirements of the individual systems and the local regulations.
Founded in March 2022, SEES offers a comprehensive suite of services and leading-edge technologies that provide operators with a robust, scalable solution for measuring, monitoring, reporting and ultimately eliminating methane emissions and gas emissions from routine flaring. Since its inception, SEES has completed projects for clients in Asia, the Middle East, Europe and the USA. This includes services in the areas of consulting, optimized monitoring planning, measurement and evaluation, which are provided via a secure digital platform.
About SLB
SLB (NYSE: SLB) is a global technology company committed to transforming the energy industry to benefit the environment. With offices in more than 100 countries and a diverse workforce, innovations in the oil and gas sector are a daily focus. The energy transition is being driven forward with large-scale digitalization, the decarbonization of the industry and the development and scaling of new energy systems. For more information, visit slb.com.
Forward-Looking Statements: This press release contains forward-looking statements within the meaning of the federal securities laws. These are statements about the future, not about the past. Typical of these statements are phrases such as: “expect,” “could,” “can,” “estimate,” “intend,” “predict,” “will,” “potential,” “planned” and similar phrases. Forward-looking statements address, to varying degrees, uncertain matters. Examples include potential benefits of SLB’s new technologies and partnerships, statements about sustainability and environmental goals, plans and projections, predictions or expectations regarding the energy transition and global climate change, and improvements in processes and technology. These statements are subject to risks and uncertainties, such as the inability to achieve emissions targets, achieve targeted strategic objectives, initiate legislative and regulatory initiatives to address environmental problems, obtain timely approvals and other risks and uncertainties SLB’s most recent Forms 10-K, 10-Q and 8-K filed with the Securities and Exchange Commission. If such risks or uncertainties materialize or if underlying assumptions prove incorrect, results may differ materially from those projected in the forward-looking statements. The forward-looking statements speak only as of the date of this press release. SLB disclaims any intention or obligation to publicly revise or update any statements made herein, whether as a result of new information, future events or otherwise.
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