HP March 2022 eBook—Energy Transition - 3

Fueling the sustainability revolution
AMISH SABHRAWAL, Global Head of Engineering, AVEVA
At times, oil and gas professionals might feel their work is a
thankless task. Though the world relies on hydrocarbons for
nearly all aspects of everyday life, the fossil fuel debate is polarizing.
Sustainability advocates frequently paint the sector
as the enemy of progress and fail to recognize the critical role
it must play in the global transition to a net-zero economy.
The oil and gas industry has recently made significant
strides to address sustainability and carbon emissions reduction.
The dramatic market changes of the last year have
forced the industry to accelerate its capital projects and
prioritize sustainability. As environmental standards have
grown increasingly stringent, investors are funneling new
capital to sustainability initiatives on a global scale.
The processing industry is exploring new energy options
like transitioning to natural gas. It is building new net-zero
carbon facilities using carbon sequestration technologies
and leaning more on renewable energy sources like hydrogen,
wind and solar. It is shifting its strategies toward building
a circular economy. The industry is meeting its responsibility
to find cleaner, greener solutions to the global energy
crunch and embracing new technologies and strategies.
As Lord Deben, the Chairman of the UK's Committee on
Climate Change, told a gathering of energy leaders during
COP26 in Glasgow, " The world in which we live and the
place at which we find ourselves is really exciting -you have
an important role to play. If you play it properly, we will
build a better world, while conquering the damage that we
have done to the world that gives us life. "
To deliver the transformation needed within such an urgent
timeframe, enterprises will need more than good intentions.
Ad hoc projects and simply maintaining the status
quo will not produce the necessary changes. Energy companies
must take a holistic view of their operations and turn
their brownfield assets into greenfield assets. They need to
clearly define their targets for delivering a net-zero future
and be clear on the steps required to reach them.
Organizations with a high degree of digital maturity
have proven to be more flexible and agile. They are better at
adapting to and coping with rapid change than peers earlier
in the digital transformation process. The same companies
will have the competitive advantage as sustainability becomes
the new business reality in a market that is no longer
afraid of drastic measures and rapid change.
Today, the greatest challenges lie not only in investing in
the right technologies to deliver transformational change,
but in educating people on how to unify and use those
technologies. AVEVA works with thousands of customers
across the globe to build new facilities and transform existing
brownfield facilities into sustainable, digital assets fit
for the future.
Digital assets are facilitating greater innovation. They are
enabling greater collaboration among different disciplines,
providing the opportunity to integrate scenarios, creating
systems that are flexible and adaptable, and delivering comprehensive
training.
Likewise, the financial case for moving to sustainable
energy production is becoming business-critical, with sustainability
and environmental, social, and governance goals
driving performance and helping to secure capital from environmentally
conscious shareholders.
The world is changing quickly. Just as the oil and gas industry
fueled rapid industrialization, today's processing industry
is at the heart of the green industrial revolution. The
energy sector must combine its unrivalled expertise and
passion for innovation with forward-thinking technology
to deliver a greener, carbon-neutral future.
http://aveva.com
HP March 2022 eBook—Energy Transition

Table of Contents for the Digital Edition of HP March 2022 eBook—Energy Transition
