Practices that Make Oil and Gas Industry Cleaner and Safer for the Environmentby Emma L. Business consultant
Natural resource exploration and exploitation industry are still one of the largest and most powerful in the world. When talking about drilling for oil, gas or minerals, green or eco-friendly doesn't really come to mind. However, due to the recent trend where consumers not just expect but also demand from industries to be more environmentally aware, even the industries that are the least green are reconsidering their approach.
Everyone is starting to not just see, but also feel the impact of global warming and the environmental disaster we created in our thirst for profits. By making an effort, even a small one, both large and small industries can make a step forward towards making our planet hospitable once again. With that in mind, here are a few practices that can make the oil and gas industry cleaner and safer for our environment.
Embracing new technologies
The fact that modern technology is reshaping every industry as we know it can even be seen in the O&G industry. Some of the finest experts in the field that come from the best mechanical engineering schools in the US are using new technologies, such as used oil recycling, leveraging advanced analytics, automation and AI to make this industry greener by utilizing cleaner and safer practices.
As an example, the O&G industry has managed to vastly reduce the use of fresh water in oil production. Nowadays, they recycle around 80-95% of the water used to separate oil from other materials during the extraction. What's more, major companies are also considering redesigning the entire extraction process to avoid using fresh water altogether.
Technology is not only making the O&G industry more efficient but it's also making it more reliable. With the new and sophisticated oilfield equipment at their disposal, major companies can now prevent hazardous spills that lead to environmental disasters every time and there's been a lot of those in the past. Major companies know all too well that such incidents cannot and will not be tolerated any longer, especially considering the fact that technology can help prevent such accidents.
Aside from preventing dangerous oil spills, companies can also prevent methane leaks, which is one of the major contributors to global warming. In other words, major companies are doing their best to reduce the significant carbon footprint they leave behind every extraction.
Leveraging renewable energy
Even though a lot of industry giants are still exploring natural resources while trying to lower emissions, there are companies that are focused on renewable energy aside from exploiting natural resources.
With major O&G companies supporting renewable energy, such as solar power, it's safe to say that even the companies' people blame the most for pollution and environmental changes are turning the page towards safer and more cleaner practices.
No one can deny the fact that the O&G industry is becoming more transparent, as well as more socially responsible. Aside from that, industry giants are choosing to voluntary report on their sustainability efficiency and capacity, which includes information regarding the economic, social, environmental and governance performance of these companies.
Last but not least, major O&G companies are deciding to contribute back to the community. In other words, companies allocate almost as much as resources to charitable causes as they do for discovering innovative technologies that will make them safer and more efficient in resource exploration and exploitation.
Digitalization and waste reduction
As mentioned before, modern technology reshapes every industry it comes in contact with. Up until now, the O&G industry has been pretty much straightforward. Find a resource and use heavy machinery to extract it. As much as this is true even today, many companies in the O&G industry are taking a step towards digitalization and reduction of waste.
One of the biggest trends industry-wide is going paperless. By digitalizing one of the most wasteful aspects of any industry, the O&G has not just waste reduction in mind but also improved efficiency by minimizing human errors while saving both time and resources that would otherwise be spent on demanding paper-related administration.
Natural resource exploitation has been associated with global warming, pollution and any other environmental disaster we faced up until today. However, even the companies in the O&G industry are realizing the dire consequences of proceeding with exploitation as it was done years ago. That's why today, major corporations and industry giants are turning the page toward safer and cleaner practices that will have the preservation of our environment in mind.
Created on Aug 23rd 2019 05:40. Viewed 280 times.