The study highlighted the following:
- The West Newton project has an AA rating for carbon intensity for its potential upstream crude oil production.
- Carbon intensities at West Newton are significantly lower than the UK average and compared to other onshore analogues.
- Based on the study, GaffneyCline estimate that West Newton could produce the equivalent of just 5 g of CO2 per megajoule of energy created (gCO2eq./MJ).
- The study also highlighted that this number could be further reduced to just 3.5 g CO2eq./MJ by applying gas-to-grid technologies.
- As the development proceeds and project knowledge increases, there is potential to improve the carbon intensity by further reducing fugitive, flaring and venting emissions through the use of best available technologies.
The study used the oil production Greenhouse Gas Emissions Estimator developed at Stanford University and an assessment of the global carbon intensity of crude oil production which GaffneyCline contributed to. Study parameters were selected from GaffneyCline`s global field database as well as specific West Newton factors, including a notional development plan and recovery mechanism. The result of this study was benchmarked against other field analogues using the global field database. In addition, the outcomes of the study were analysed and insights provided on the major contributing factors to the overall carbon intensity of West Newton.
Analysis of the results of this GaffneyCline study concludes that the West Newton hydrocarbon project has carbon intensities significantly lower than the UK average and compared to other onshore analogues. As recommended by the study the development of West Newton will seek to further reduce the project's carbon intensity through the utilisation of the best available techniques, including gas-to-grid technologies and stringent engineering specifications to minimise any venting, flaring or fugitive emissions.
David Bramhill, Executive Chairman of Union Jack commented: “This study is an excellent overview of the green credentials for any future development decision at West Newton. The AA rating achieved indicates the efforts made by the Operator, Rathlin Energy (UK) Limited, to ensure that projects under its stewardship comply with best practice. Union Jack and Reabold Resources Plc support Rathlin's strategy to negate the effects and threat of climate change. Union Jack's growth strategy is aligned with our carbon management practice for all of our development projects in the future in order to achieve significantly lower carbon intensities than the industry average.
“The board of Union Jack believes that in these environmentally aware times, investors will only wish to commit to investments in companies and projects that support a transition to a low-carbon economy. As part of our ongoing strategy in respect of the environment going forward, we commit to be totally transparent in respect of our projects and on how our carbon management practice is implemented.”
Read the article online at: https://www.oilfieldtechnology.com/hse/16062020/carbon-intensity-study-rates-west-newton-project-aa/