BAKU, Azerbaijan, Jan.12
By Leman Zeynalova – Trend:
Onshore producers have a higher carbon intensity on average, while offshore producers are scattered, some performing in the low-emitter category, others in the highest, Trend reports citing Rystad Energy.
Shale producers dominate the cleaner end of our list, while their oil sands peers have by far the heaviest CO2 footprint, said the company.
In the offshore segment, which has an average intensity of approximately 17 kg per boe, the top three performers in terms of CO2 intensity in 2019 were Neptune Energy (1st), Sakhalin Energy (2nd) and Aker BP, with the three companies having a score close to 7 kg per boe, according to the company.
For offshore operators with production above 1 million boe per day, Equinor is the frontrunner, boasting an average intensity of about 9 kg per boe for all production. Equinor’s ambition is to reduce the operated intensity to below 8 kg per boe by 2025.
The shale industry’s CO2 emission intensity is calculated at around 12 kg per boe. Shale gas players (marked in light red) consistently score lower on both flaring and overall emissions than shale oil players, and the three lowest are Antero Resources, EQT Corporation and Range Resources – each with a production intensity of around 6 kg per boe, with Antero being the top performer. Among the shale oil players, Concho Resources has the lowest intensity at approximately 9 kg per boe produced.
The oil sands segment has a more energy-intensive extraction process, and as long as this process is fueled by fossil fuels without CCS, the companies in this segment will be on the higher end of the spectrum. Average CO2 intensity for oil sands is calculated at a staggering 73 kg per boe. There are also differences between in-situ and mining in terms of emissions, and an effect of maturity seen, but more in terms of differences in the technologies applied.
Conventional onshore producers have an average CO2 intensity of 19 kg per boe. Saudi Aramco, Lukoil and Vermilion Energy all performed well in terms of CO2 intensity in 2019 and are the three top performers on our list. Saudi Aramco benefits from hosting large field developments with stable production and low amounts of associated gas, which helped it lead the category with emission intensity at just about 9 kg per boe. Vermilion followed with about 11 kg per boe and Lukoil with 12 kg per boe.
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