First oil carbon intensity certification
Published by Jack Roscoe,
Editorial Assistant
Oilfield Technology,
Locus Bio-Energy’s AssurEOR STIM® biosurfactant technology has been certified to reduce the carbon intensity and boost production of crude oil and natural gas operations. The EOR technology will allow oil and gas companies, as well as their clients—such as airlines, cruise lines, utilities, companies that produce or use plastic, and any entity relying on trucking and shipping to get products to market—to accelerate the achievement of their decarbonisation goals and produce more with less resources.
Oil and gas production contribute 63% of the industry’s carbon footprint. According to the International Energy Agency, production accounts for 10%-15% of the overall footprint of a barrel of oil or gas. Cost-effective solutions are needed to meet reduction goals, as many decarbonisation strategies will take time to scale.
“Companies around the world that rely on oil and gas and its by-products are under tremendous pressure to meet their decarbonisation goals; often with no clear path to do so in a meaningful manner,” said Andrew Lefkowitz, CEO of Locus. “There isn’t another technology that can immediately enhance extraction without additional CAPEX, while also accelerating decarbonization progress.”
AssurEOR STIM’s certification has been issued by SGS, which provides inspection, verification and testing certification services to thought leaders in over a dozen global industries. The ISO-14064 certification was developed to comply with both ISO 14064:2-2019 (greenhouse gas reporting) and the EU commission’s innovation fund methodology for ghg emission avoidance. It allows for easy incorporation into scope and carbon intensity accounting. Locus Bio-Energy’s AssurEOR STIM enhanced oil recovery (EOR) technology has already been deployed successfully on hundreds of wells across key basins to address declining oil and gas extraction. The crux of the novel well stimulation treatments is that they can be easily deployed around the world to reduce the negative environmental impact of oil and gas production, while cutting costs and increasing revenue.
“AssurEOR STIM is the first ISO-14064 certified EOR technology that can make an immediate impact on carbon intensity at the start of the oil and gas supply chain,” said Lefkowitz. “Our data indicates that treatments could boost crude oil production by 10-45%+, while lowering the carbon intensity by 7-20%+.”
As entire fields adopt the treatments, further reductions can be realised throughout the asset value chain. Although Locus’ EOR technology was first to be certified, its entire range of oilfield technologies—from completion fluid additives to flow assurance and cleaning solutions—all have the potential to significantly reduce the carbon intensity of their respective operations.
Read the article online at: https://www.oilfieldtechnology.com/product-news/09112023/first-oil-carbon-intensity-certification/
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