Energy Transition Outlook 2021

ENERGY TRANSITION OUTLOOK 2021

Unlocking the full potential of technological capabilities will be a critical mechanism to support the basin to meet its net zero targets under the North Sea Transition Deal. Technology investment in emissions reduction, for example, will act to support industry’s commitment to reduce operational emissions by half by 2030, and by 90% by 2040. New developments in areas such as methane leak detection are already supporting industry commitment to the methane action plan By reshaping and refocusing, the Net Zero Technology Centre will also act to drive and unlock the full capabilities of what it calls ‘Offshore Energy 4.0’, which will focus on digitisation and automation, using real time data to support smart assets and real-time decision making. Both of these pillars will be crucial as the UKCS transitions to become an energy highway, one which will see energy being produced in a decarbonised manner, using creative and innovative technology such as energy storage and network infrastructure, CCUS and hydrogen. In addition to these technologies offshore wind will play a significant role in unlocking and further harnessing the opportunity of electrification to drive down emissions. This will also enable the UKCS to lead as an example to other global basins; and just as the UK led the way in decommissioning, we will demonstrate how technology can support the transition to a net zero economy. Looking ahead to 2022, OGUK, along with its members will continue to work closely with the Net Zero Technology Centre and welcomes the white papers by the Net Zero Technology Centre on venting and flaring, alternative fuel supply and energy as well as recommendations on technology to support well decommissioning.

Since 2017, the Net Zero Technology Centre (NZTC) has fast-tracked technology investment within the oil and gas industry and is now acting to accelerate the role of technology in support of the transition to a net zero basin. Its focus is on reducing emissions from existing facilities, unlocking the full potential of an integrated energy system, driving the energy industry towards a digital, automated future and accelerating clean energy start-ups to build a thriving supply chain. 17

17 https://roadmaps.netzerotc.com/RoadmapVis.html

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