The North Sea Transition Authority (NSTA) has announced that North Sea oil and gas operators could invest up to £3 billion in 14 major projects capable of cutting up to 32 million tonnes of lifetime CO2e emissions from their production activities, a quantity greater than London’s estimated annual emissions in 2021.
The projects – highlighted at the NSTA annual performance review of the UK’s top 20 operators – involve using low-carbon power on platforms, installing technologies designed to eliminate routine flaring and venting, and hydrogen. They could potentially go live between 2024 and 2030 on new and existing projects, making a significant contribution to achieving the sector’s emissions reduction targets.
Source: NSTA.