Did you know ?
The number of humans who still do not have access to energy in 2020.
The amount of climate refugees by 2050*.
Those 840 million people have the right to get access to energy and we have the mission to provide it for their development.
We have the responsibility to avoid creating 143 million climate refugees caused by global warming (and not talking about biodiversity).
Those two objectives seem antagonistic, right?
On one side, the need for providing energy that is affordable and easy to deliver to poor populations; as of today, oil is the only one meeting those criteria in the short-term. On the other, if more oil is burnt to produce energy for those people, we will create climate refugees.
Well, there is a way.
To reconcile those conflicts, the oil production from fields already in operation, must be optimized, as the damages caused by the exploration and the production have already been made.
Did you know?
On average, only 35% of the oil and gas present in an oil reservoir is extracted before deciding/considering that more cannot be produced. Yet, if we raise this rate by only 1% on a global scale, we could provide to the world (including those 840 million people) the energy it needs until 2050***, and so, as part of the energy transition (and the COP21 scenario).
Optimizing the production using the existing infrastructures, enable us to preserve biodiversity and prevent from creating new onshore/offshore oil deposits in new zones such as Alaska, Arctic, Amazonia, Papua New Guinea, Guyana. This isn’t as simple as it seems, as extracting more oil from existing reservoirs requires a precise understanding of its dynamic, which is what SpotLight can offer.
CO2 geological storage comes into play.
// Olympic swimming pools****. This surface, larger than the European Union, represents what we have to store.
If more oil is burnt to provide energy for the 840 million people in need, we cannot ignore the greenhouse effect generated. In every scenario presented by COP21, IPCC, IEA, the role of CO2 storage to limit global warming to 2 degrees is massive. To accompany this systemic CO2 storage of extraordinary volume over time and on a global scale, monitoring is absolutely crucial to make sure we can store enough CO2 and keep it down there for millennia to come.
This is where SpotLight comes into play.
Our solution can ensure that the CO2 remains in the subsurface, by monitoring, detecting and alarming if any changes occur.
Did you know?
Greenhouse gas free energy is the only viable option on the long term. Good news for geoscientists that the earth energy potential isn’t just about oil and gas. Green energies and renewable ones exist. The obvious one for us, which is also our objective on the long term, is Deep Geothermal energy. An already rising technology that undoubtedly requires a precise dynamic understanding of how geothermal circulation happens in the subsurface, another great asset to prevent climate refugees.