Emissions Report 2022

Offshore energies The UK’s offshore operators are developing four key new technologies to help the UK achieve carbon neutrality

target of a 50% reduction by 2030 is within reach. Continuous operational improvement will be central to delivering progressive emissions reduction. New investment in exploration and production will also help this process as it displaces older, higher emission resources. However major capital investment programmes will also be required. Replacing gas or diesel power on platforms with grid electricity requires the repurposing of facilities and new offshore power infrastructure. However, this also presents a great opportunity to deploy floating wind at scale, via the wind lease round: Innovation

and Targeted Oil & Gas (INTOG), which will put the UK in leading position in the promising floating wind market. With both energy and carbon prices at historically high levels the need for low emission hydrocarbon production via the Deal commitments has never been greater. The UK offshore sector is ready and willing to meet this challenge but government actions on grid access, regulatory streamlining and business models are required.

EMI SS IONS REPORT 2022

5