CLIMATE CHANGE MITIGATION STRATEGIES IN THE OIL & GAS SECTOR: A REVIEW OF PRACTICES AND IMPACT

Abstract

Climate change mitigation has become a pressing global challenge, with the oil and gas sector being a significant contributor to greenhouse gas emissions. This review examines climate change mitigation strategies within the oil and gas industry, focusing on practices and their impact. The oil and gas industry faces increasing pressure to reduce its carbon footprint and transition towards cleaner energy sources. Various mitigation strategies have been implemented, including technological innovations, operational improvements, and investments in renewable energy. These strategies aim to minimize greenhouse gas emissions, improve energy efficiency, and transition towards low-carbon alternatives. Technological innovations play a crucial role in mitigating climate change within the oil and gas sector. Advanced drilling techniques, such as horizontal drilling and hydraulic fracturing, have enabled companies to extract oil and gas more efficiently, reducing emissions per unit of production. Additionally, carbon capture, utilization, and storage (CCUS) technologies have been developed to capture and store carbon dioxide emissions from oil and gas operations, preventing them from entering the atmosphere. Operational improvements, such as reducing methane leaks and flaring, are also essential for climate change mitigation in the oil and gas industry. Methane is a potent greenhouse gas, and minimizing its release during extraction, processing, and transportation is critical for reducing the sector's overall emissions. Companies have implemented measures such as leak detection and repair programs, improved equipment maintenance, and enhanced monitoring systems to mitigate methane emissions effectively. Furthermore, investments in renewable energy and low-carbon technologies are increasingly common among oil and gas companies. Many companies are diversifying their portfolios to include solar, wind, and bioenergy projects, aiming to reduce their reliance on fossil fuels and contribute to the transition to a low-carbon economy. In conclusion, climate change mitigation strategies in the oil and gas sector encompass a range of technological, operational, and investment initiatives aimed at reducing greenhouse gas emissions and transitioning towards cleaner energy sources. While progress has been made, ongoing efforts and collaboration between industry stakeholders, governments, and civil society are essential to achieve meaningful impact in mitigating climate change. Keywords: Climate Change, Mitigation, Strategies, Oil and Gas Sector, Practices and Impact.