Saudi Aramco, the world’s largest oil company, has announced its goal to reduce emissions by 2050 without compromising oil and gas production. Many companies have outlined plans to reduce greenhouse gas emissions, with some committing to achieving net zero emissions. In this context, the major oil companies face the challenge of contributing to the fight against climate change, while demand for their products remains high.
Aramco’s formula for sustaining production
Companies are looking for innovative ways to streamline their operations without abandoning their core business, and this company is no exception. The company has unveiled multiple research projects at its headquarters in Dhahran, eastern Saudi Arabia, aimed at addressing climate change, while continuing to extract 9 million barrels of oil per day.
According to Saudi Aramco, technological advances will reduce carbon emissions per barrel by 15% by 2035, representing 51.1 million tons of carbon per year. Ashraf Al-Ghazzawi, Executive Vice President of Strategy and Corporate Development, says that combating emissions from conventional energy sources is a viable option.
“We need all sources of energy to meet the growing demand, especially in the developing world. Our main focus is on efficiency and optimization of current production.“, stated Ahmad Al-Khowaiter, Aramco’s Executive Vice President of Technology and Innovation. Khowaiter also mentioned that the company has tripled its research and development staff since 2010, and filed 1,033 U.S. patents. Aramco currently invests $800 million annually in R&D, with 60% going to sustainability.
Technologies to reduce emissions
One of the technologies adopted by this company is carbon capture. carbon capture . At its Hawiyah gas plant, the company captures carbon emitted during oil and gas production, transporting it 50 miles to be injected into an oil well, improving oil recovery and storing the carbon. Aramco plans to reduce the cost of carbon capture by 50%, making it commercially viable. The company aims to capture and store 9 million tons of carbon annually at Jubail starting in 2028.
In addition, Aramco seeks to produce 11 million tons of blue ammonia from its Jafurah natural gas field by 2030. For more than a decade, the company has explored technologies to produce lower-carbon hydrogen, including thermo-neutral reforming, with the goal of producing blue hydrogen by capturing CO₂ emissions from production.
However, finding buyers for its blue ammonia can be a challenge, as CEO Amin Nasser revealed that the cost of blue hydrogen is approximately $250 per barrel of oil, three times the current price of Brent. Despite the difficulties, Aramco remains committed to its goal of not reducing fossil fuel production. “Saudi Aramco is a good example that emissions can be managed,” Ghazzawi said.
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Source: worldenergytrade
Photo: Shutterstock
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