- New research from ABB shows how offshore companies can reduce global carbon emissions by 300,000 tons per site per year1, the equivalent of taking 150,000 cars off the road2
- Moving to autonomous operations increases reliability and predictability of energy supply
- Annual savings of up to $30 million3 can be achieved
Today, ABB has published another of its ‘Energy Transition Equation’ reports that shows how industrial customers can reduce carbon emissions and manage the energy transition for a more sustainable future.
Based on nine months of research and modelling, the report highlights how early adoption and integration of automation, digitalization, and electrification technologies to enable autonomous operations can deliver savings of over 300,000 tons of carbon emissions per annum for offshore sites (approximately 25 percent reduction). This is the equivalent of removing 150,000 combustion cars from the road and is the same volume of CO2 responsible for five million tons of glacier mass lost each year.4
“The world needs more energy,” said Brandon Spencer, President, ABB Energy Industries. “Even in the most advanced scenarios for renewables, we will still need to invest in oil and gas infrastructure to ensure availability and stability of supply to meet our energy needs. Now is the time to make that investment count, using the right technology to ensure energy production from hydrocarbons is the most sustainable it can be, as we continue to develop renewables.”
The report also demonstrates how companies can realize production efficiencies of up to $30 million in annual savings, while delivering net revenue increases of up to $120,000, thanks to autonomous operations.
A key part of this is redeploying companies’ offshore workforces, moving them from hazardous roles into new ones onshore. In doing so, employers can offer safer working environments, a better work-life balance and fill industry talents gaps by reskilling employees to support a data-led approach to oil and gas exploration and production.
In 2021, ABB reduced its own CO2 emissions by 39 percent as part of its Sustainability Strategy 2030 and expects to be fully carbon neutral by decade’s end. The strategy details how ABB will support its global customers in reducing their annual CO2 emissions by at least 100 megatons by 2030, the equivalent of removing 30 million combustion cars from the roads.
The report’s economic modelling was undertaken by independent economist Steve Lucas of Developmental Economics,5 in conjunction with ABB Energy Industries and supported with desktop research of academic and industry sources. ABB will publish reports focused on the power and chemicals markets in 2023.
To read the report, click here: solutions.abb/energy-transition
ABB (ABBN: SIX Swiss Ex) is a leading global technology company that energizes the transformation of society and industry to achieve a more productive, sustainable future. By connecting software to its electrification, robotics, automation and motion portfolio, ABB pushes the boundaries of technology to drive performance to new levels. With a history of excellence stretching back more than 130 years, ABB’s success is driven by about 105,000 talented employees in over 100 countries. www.abb.com
ABB’s Process Automation business is a leader in automation, electrification and digitalization for the process and hybrid industries. We serve our customers with a broad portfolio of products, systems, and end-to-end solutions, including our # 1 distributed control system, software, and lifecycle services, industry-specific products as well as measurement and analytics, and marine offerings. As the global # 2 in the market, we build on our deep domain expertise, diverse team and global footprint, and are dedicated to helping our customers increase competitiveness, improve their return on investment and run safe, smart, and sustainable operations. go.abb/processautomation
Notes to editors
These figures are based upon hypothetical scenarios of a 1 x 150000 barrel a day (oil) FPSO and a 1 x 150000 barrel (oil) Fixed Platform. Both assume an operational life cycle of 15 years with a 5-year development phase. Some have been rounded out for the purpose of the press release – exact calculations and figures can be found in the report or can be downloaded here Carbon equivalent emissions
1. Average annual findings across fixed and floating greenfield sites
2. Source: What exactly is 1 tonne of CO2? We make it tangible. - Climate Neutral Group
3. Average annual findings across fixed and floating greenfield sites
4. Source: Global warming to date could ‘obliterate’ a third of glacier ice - Carbon Brief Nature Climate Change, by the researchers B. Marzeion, G. Kaser and F. Maussion.
5. https://developmenteconomics.co.uk/contact-us/
