October 30, 2023

XP’s Case study in Sustainable Upstream Operations Presented at OGT 2023 Conference

Bart Wauterickx, XP Upgreen Director, had the privilege of showcasing our company's efforts in decarbonization at the recently concluded "Oil and Gas of Turkmenistan" (OGT) 2023 Conference in Ashgabat, Turkmenistan, held from October 25 to 27, 2023.

The conference highlighted the pressing need for decarbonization in global Oil & Gas Upstream activities, which have historically been associated with carbon dioxide and methane emissions, contributing to global warming. The urgency to address this issue is emphasized by the significant methane global warming potential (GWP) compared to carbon dioxide. International organizations and countries worldwide are collaborating to reduce greenhouse gas (GHG) emissions.

As an international Oil & Gas operator, we shared our data-driven approach that resulted in a noteworthy 87% reduction in GHG intensity and a substantial 77% reduction in energy intensity over the past decade.

Our journey in decarbonization begins with establishing a credible emission baseline, aligning with international best practices. This forms the foundation for our environmental Key Performance Indicators (KPIs) and Environmental, Social, and Governance (ESG) reporting.

We then conduct a thorough analysis of the emission baseline to identify decarbonization opportunities, leading to enhancements in various areas, including mobile well testing units, real-time monitoring technologies, compression for pipelines, compressor maintenance, vapor recovery units, stranded gas solutions, and leak detection programs.

Bart presented our diligent selection of the most feasible abatement solutions from a comprehensive list of potential improvements, ensuring that detailed project preparation, design, engineering, and implementation plans are in place for successful execution.

As an Oil & Gas Upstream operator, we aim to play a role in successful decarbonization efforts. Our achievements in GHG reduction, energy intensity reduction, and positive community engagement reflect our commitment to sustainable operations.

At OGT 2023, we had the opportunity to share our expertise and experiences, with a sincere hope of extending our collaborative decarbonization efforts to Turkmen Oil & Gas fields. Together, we aspire to contribute to a greener and more sustainable future for the industry.