Petroleum++: Should SPE Be Part of the Conference of the Parties (COP)28?

Abstract

_ As most of our members know, the United Nations Framework Convention on Climate Change (UNFCCC) convenes annually at a meeting called Conference of the Parties (COP) in various host countries, usually in November or December. COP is the main decision-making body of the UNFCCC. It includes representatives from all the countries that are signatories (or Parties) to the UNFCCC. COPs are where Parties (governments) assess global efforts to advance the key Paris Agreement aim of limiting global warming to as close as possible to 1.5°C above pre-industrial levels. This year COP28 will be in Dubai. Although these meetings are focused on mitigating climate change concerns, there is usually considerable time spent on current and future sources of energy. It is noteworthy that our industry, the main provider of energy to the world right now and, as many members of SPE know, for the foreseeable future, is usually not represented in these conferences. This started to change last year in Sharm El Sheikh, and we will probably see more involvement in Dubai. I think SPE, as the largest professional society for the production of the dominant energy source, needs to be part of the discussion. Related to my 2023 theme, Petroleum ++, we have an important role to play in mitigating climate change concerns (the first +) and in developing new low- or no-carbon sources of energy (the second +). We are a technical society that does not lobby or advocate. We offer a forum for presenting and disseminating scientifically vetted technical information about what can be and is being done by our members in the expanded space of our work in the areas of climate change and new energy. We also need to emphasize the fact that we are citizens of this planet, and we care about its future for us and the next generations. I would like to share the points I am making with the organizers of COP28 about our efforts for two reasons. First, to share with our members the efforts being made in this regard and second, for our members to use this information in further developments in their work and discussions with others about the role of petroleum engineering in the expanded energy landscape. Reducing Emissions The SPE Methane Emissions Management Technical Section (MEMTS) was formed in June 2022 to provide a platform for learning and collaboration for SPE members working or interested in the topic. The purpose of MEMTS is to further the objectives of SPE in open discussion of methane emissions management, to generate awareness on industry best practices, and to promote those practices widely. MEMTS is intended to accelerate the translation of technologies and ways of working across upstream, midstream, and downstream to reduce the risk and costs of methane emissions management projects, including: - Planning, measuring, monitoring, recording, analysis, and reporting emissions. - Addressing key abatement activities: fugitive emissions, venting emissions, flaring, methane capture, and use. - Promoting best practices and standardization. - Sharing digitalization best practices. - Supporting related R&D activities. - Addressing the regulatory landscape for emissions. - Optimizing costs and resources. - Addressing corporate risk, governance, and monetization (carbon credits, stock value).