Schlumberger Launches Dedicated Business to Eliminate Oil and Gas Industry’s Methane and Routine Flare Emissions

Rhea-AI Summary

Schlumberger has launched the Schlumberger End-to-end Emissions Solutions (SEES), providing comprehensive services for measuring and eliminating methane and flare emissions. This initiative aims to assist operators in achieving their decarbonization goals amidst increasing industry pressure to reduce methane emissions. SEES will leverage a holistic approach with three key pillars: plan, measure, and act, utilizing the industry's first methane emissions digital platform. Schlumberger aspires to eliminate 1% of all anthropogenic GHG emissions by 2030, reinforcing its commitment to sustainability.

Positive

• Launch of SEES to offer comprehensive emissions reduction solutions.
• Utilizes cutting-edge technology to address methane emissions effectively.
• Aims to eliminate 1% of global anthropogenic GHG emissions by 2030.
• Holistic approach with three main pillars: plan, measure, and act.

Negative

• The success of SEES depends on effective implementation and market adoption.
• Potential risks associated with regulatory changes affecting emission strategies.

New end-to-end emissions solutions business offers a unique range of solutions to help operators identify, quantify, report, and eliminate emissions as they work toward their decarbonization objectives

HOUSTON--(BUSINESS WIRE)-- Schlumberger announced today the launch of Schlumberger End-to-end Emissions Solutions (SEES). The business offers a comprehensive set of services and cutting-edge technologies designed to give operators a robust and scalable solution for measuring, monitoring, reporting and, ultimately, eliminating methane and routine flare emissions from their operations. SEES launches at a critical time in the industry—today we witnessed leadership from Oil and Gas Climate Initiative (OGCI) members who announced their aim for zero methane gas emissions in oil and gas operations by 2030. Methane and flare emissions currently account for more than 60% of direct (Scope 1 and 2) greenhouse gas (GHG) emissions from the industry.

Schlumberger Chief Technology Officer Demos Pafitis commented: “We have created SEES specifically to help our customers deal with one of the most pressing issues of climate change: the urgent need to cut methane emissions. Due to its potency as a GHG and its major share of the industry’s overall operational emissions, tackling methane emissions will make a significant impact.”

As energy companies seek to operate in a more sustainable manner, they will need to more reliably report and reduce their methane emissions and flaring activity. Currently, when looking for answers and partners to address this challenge, they are faced with a patchwork of disparate offerings—SEES changes that.

SEES delivers a holistic approach to enable operators to develop a successful methane emissions elimination strategy from the outset. The approach builds on three pillars—plan, measure, and act—that are all underpinned by the industry’s first methane emissions digital platform, accessible in the DELFI* cognitive E&P environment, to provide a comprehensive and differentiated path for operators to achieve their decarbonization objectives:

1. Plan: Schlumberger screens a wide array of measurement and abatement solutions to identify the most cost-effective technology mix for any operator’s specific assets.
2. Measure: Schlumberger uniquely provides operators access to the full range of curated, best-in-class third party and in-house solutions, after rigorous evaluation of 97 methane measurement technologies.
3. Act: Though other service providers can inform an operator where emissions are occurring, Schlumberger—through its end-to-end offering—first finds the emissions and then takes remedial action to eliminate them.

In addition, robust data and a digital foundation will enable customers to have a secure, reliable single place for integrating multi-source emissions data with advice, plans and insights.

Kahina Abdeli-Galinier, Schlumberger emissions business director, commented: “The urgency of methane and flare challenges means emission detection, measurement, reporting and abatement approaches need to mature rapidly. To benefit the industry, SEES aspires to become the trusted partner for operators looking to reduce their emissions footprint quickly, credibly, and in the right way. To benefit the planet, our objective is to work with our customers to eliminate 1% of all anthropogenic GHG emissions by 2030.”

SEES combines Schlumberger’s extensive measurement and planning experience with the ability to assess and implement emerging technology, foundational data, AI, and digital capabilities, and the means to scale and deploy anywhere in the world. The business has also developed extensive knowledge and expertise in international reporting and certification standards related to GHG emissions. Recent customer engagements include building a digital platform to support a multi-sensor, multi-operator monitoring program, and entering into a consulting contract with an IOC to enable them to comply with the Oil and Gas Methane Partnership (OGMP) 2.0 framework for methane.

For more information, visit www.slb.com/SEES.

About Schlumberger

Schlumberger (SLB: NYSE) is a technology company that partners with customers to access energy. Our people, representing over 160 nationalities, are providing leading digital solutions and deploying innovative technologies to enable performance and sustainability for the global energy industry. With expertise in more than 120 countries, we collaborate to create technology that unlocks access to energy for the benefit of all.

Find out more at www.slb.com

Cautionary Statement Regarding Forward-Looking Statements

This press release contains “forward-looking statements” within the meaning of the federal securities laws—that is, any statements that are not historical facts. Such statements often contain words such as “expect,” “may,” “can,” “believe,” “plan,” “estimate,” “intend,” “anticipate,” “should,” “could,” “will,” “likely,” “goal,” “objective,” “aspire,” “aim,” “potential,” “projected” and other similar words. Forward-looking statements address matters that are, to varying degrees, uncertain, such as projected demand growth for end-to-end emissions solutions; and forecasts or expectations regarding energy transition and global climate change. These statements are subject to risks and uncertainties, including, but not limited to, the inability to recognize intended benefits from SEES and other Schlumberger strategies, initiatives or partnerships; legislative and regulatory initiatives addressing environmental concerns, including initiatives addressing the impact of global climate change; and other risks and uncertainties detailed in Schlumberger’s most recent Forms 10-K, 10-Q, and 8-K filed with or furnished to the U.S. Securities and Exchange Commission. If one or more of these or other risks or uncertainties materialize (or the consequences of any such development changes), or should underlying assumptions prove incorrect, actual results or outcomes may vary materially from those reflected in our forward-looking statements. The forward-looking statements speak only as of the date of this press release, Schlumberger disclaims any intention or obligation to update publicly or revise such statements, whether as a result of new information, future events or otherwise.

*Mark of Schlumberger.

View source version on businesswire.com: https://www.businesswire.com/news/home/20220308006310/en/

Media

Giles Powell – Director of Corporate Communication, Schlumberger Limited

Tel: +1 (713) 375-3494

communication@slb.com

Investors

Ndubuisi Maduemezia – Vice President of Investor Relations, Schlumberger Limited

Joy V. Domingo – Director of Investor Relations, Schlumberger Limited

Tel: +1 (713) 375-3535

investor-relations@slb.com

Source: Schlumberger

FAQ

What is Schlumberger's new emissions solution called?

The new emissions solution is called Schlumberger End-to-end Emissions Solutions (SEES).

When was the SEES launched by Schlumberger?

Schlumberger launched SEES on March 8, 2023.

What are the key objectives of the SEES program from Schlumberger?

The key objectives include measuring, monitoring, reporting, and reducing methane and flare emissions.

How does SEES help operators achieve decarbonization goals?

SEES provides a comprehensive approach and the industry's first methane emissions digital platform.

What is Schlumberger's target for GHG emissions reduction by 2030?

Schlumberger aims to eliminate 1% of all anthropogenic GHG emissions by 2030.