Statoil ASA said April 17 that it is committed to ending routine gas flaring at oil production sites by 2030. CEO Eldar Saetre represented the company that day at the signing of an initiative to end flaring at the World Bank in Washington, D.C. Norwegian foreign minister Børge Brende was there, the company added.
Eight other oil companies and eight other countries endorsed the initiative on flaring. They have all agreed to cooperate to eliminate ongoing routine flaring no later than 2030.
Saetre said that Statoil’s operations in Norway do not use routine flaring. Norway banned its use in 1971, the company said.
Globally, every year, about 140 Bcm of associated natural gas is flared at thousands of oil fields. This results in more than 300 MM tonnes of CO2 being emitted to the atmosphere-- equivalent to emissions from about 77 million cars, the Stavanger, Norway-based company added.
Recommended Reading
Spate of New Contracts Boosts TechnipFMC's Subsea Profits
2024-04-30 - TechnipFMC's operational profits are growing as the company heightened its focus on “quality” subsea orders, which earned $2.4 billion for the first quarter.
Tech Trends: QYSEA’s Artificially Intelligent Underwater Additions
2024-02-13 - Using their AI underwater image filtering algorithm, the QYSEA AI Diver Tracking allows the FIFISH ROV to identify a diver's movements and conducts real-time automatic analysis.
Subsea Tieback Round-Up, 2026 and Beyond
2024-02-13 - The second in a two-part series, this report on subsea tiebacks looks at some of the projects around the world scheduled to come online in 2026 or later.
Exclusive: Silixa’s Distributed Fiber Optics Solutions for E&Ps
2024-03-19 - Todd Chuckry, business development manager for Silixa, highlights the company's DScover and Carina platforms to help oil and gas operators fully understand their fiber optics treatments from start to finish in this Hart Energy Exclusive.
CERAWeek: AI, Energy Industry Meet at Scary but Exciting Crossroads
2024-03-19 - From optimizing assets to enabling interoperability, digital technology works best through collaboration.