Halliburton executives have traveled the globe discussing how we apply our knowledge and expertise to provide customers with low carbon solutions.
In the past few weeks, Halliburton executives have traveled the globe discussing how we apply our knowledge and expertise to provide customers with low carbon solutions, that range from carbon capture, utilization, and storage (CCUS) to decommissioning offshore wells.
OTC Asia panels provide perspective on fossil fuel demand and decommissioning challenges
Halliburton executives participated in two panels at OTC Asia:
These panels bookended the well lifecycle, from the 2 billion barrels discovered in 2023 in Southeast Asia to the challenges associated with the safe, sustainable decommissioning of depleted wells.
As demand for oil and gas grows, Halliburton is prepared to support a balanced energy transition that includes a mix of fossil fuels and renewable energy options, according to Miller. Sustainable developments such as CCUS and geothermal are key, and Halliburton fosters new energy technologies and supports startups through Halliburton Labs. Additionally, Halliburton is engaged in geothermal energy projects in Indonesia, where we help to diversify into sustainable energy sources and implement CCUS initiatives. These efforts apply oil and gas sector expertise to support carbon storage and reduce emissions, Miller said.
During a technical panel, Elsoda discussed the importance of planning for decommissioning offshore platforms. This includes offshore activities such as pre-decommissioning activities, well plugging and abandonment, removals and site clearance, remediation, and monitoring for offshore operations. He highlighted the necessity of barrier integrity over time, barrier verification, and addressing uncertainty through a fully integrated workflow.
Lunch and learn sparks conversation on decarbonization
Is decarbonization energizing the oil and gas industry? Vice President, Low Carbon Solutions Duane Sherritt posed this question to a packed room at a lunchtime session at OTC Asia. CCUS is a viable near-term CO2 mitigation solution, and companies are taking note.
According to the Global CCS Institute, in 2022, only 194 CCUS projects were in development globally – but that nearly doubled to 392 in 2023. As companies around the world and throughout different industries look to decarbonize their businesses, meet environmental emissions requirements, and earn tax credits or help avoid penalties, CCUS is a feasible way for oil and gas service companies to provide services that stem from their core offerings, he said. To close out the session, Sherritt posed three questions that sparked lively discussions at each table:
Learn more about our low carbon solutions portfolio.
