Decarbonizing the Future
Across the world while clean energy intensifies as a core focus of the oil and gas industry, technology gains a critical role in discovering new paths towards net-zero. Find out how Planning Space supports companies that embrace decarbonization and the energy transition, particularly in the Middle East. Supporting some of the world's largest IOCs and NOCs, read more about how Planning Space Suite works towards decarbonization.
Carbon Capture & Clean Energy
The industry has evolved, moving from production targets to decarbonization. While challenges remain, companies like Aramco and ADNOC made significant strides in their energy transition efforts—a notable shift, as underscored at COP28, the 28th United Nations Climate Change Conference. This journey for most companies may include several paths to achieve net-zero for scope 1 and 2 greenhouse gas (GHG) emissions.
Leveraging the Power of Options
Decarbonization strategies vary by company depending on their unique operational fingerprint. These efforts include investments in renewables, CCUS, methane and flaring reductions, and optimizing efficiencies. Leveraging optionality helps pursue hidden opportunities, whether through new revenue streams like selling electricity or operational upgrades such as boiler optimization.
Planning Space Portfolio
Planning Space Portfolio showcases how companies can establish a baseline for 2050 emissions and evaluate multiple pathways for achieving reduction targets. The tool allows users to compare scenarios and explore different investment options, helping to allocate budgets while considering constraints like carbon intensity or forestry-based offset initiatives.
Optimization and Optionality: Key to the Future
Optimization and optionality depend on data collection, calculation, and consolidation to align with company priorities. For instance, Planning Space Portfolio standardizes initiatives to ensure they coexist within the value chain. Integrated companies, spanning upstream to downstream, benefit from Portfolio’s ability to define various scopes and measure emissions across different parts of the business.
Dataflow and Integration
Planning Space consolidates data from various sources like Energy Components, PetroVR, and Excel. The platform allows companies to incrementally integrate carbon initiatives into existing workflows, improving efficiency and optimizing economic models.
Planning Space: Final Take Aways
Planning Space has the ability to provide robust decision support through scenario modeling. Rather than offering final answers, it enhances confidence in decision-making and integrates seamlessly with existing tools.
To learn more about Planning Space, book a demonstration with one of our experts.