Active in oil and gas drilling, Nabors Industries has announced plans to invest in energy transition with its Nabors Energy Transition Solutions portfolio of technologies to drive energy efficiency and emissions reductions.
Currently the portfolio used by the company and its customers includes proprietary emissions reporting and analytics software, engine management controls, energy storage systems, hydrogen injection catalysts and fuel enhancing additives. That’s in addition to traditional high-line power and dual-fuel offerings.
Carbon capture technology is also part of that technology portfolio. Siggi Meissner, Nabors’ president, energy transition and industrial automation, told the Reporter-Telegram the company is taking the carbon dioxide-fueled enhanced oil recovery expertise it and its customers have acquired and utilizing in different areas apart from the Permian Basin.
Of this portfolio, Meissner told the Reporter-Telegram by email that verification and validation of emissions is “the first step everybody should take in order to evaluate where you stand and identify the improvement opportunities. Once this is defined, then fuel efficiency and emissions reduction solutions can be implemented.”
He added that each solution has an equal importance and will be applied based on operating requirements and conditions.
Looking ahead, Nabors expects to extend these technologies beyond drilling to the broader upstream segment and is also exploring opportunities to extend certain of those solutions beyond oil and gas to other industries. For example, the hundreds of thousands of engines used in maritime applications and power generation.
Nabors has also engaged in venture investment opportunities to enter high-growth potential markets in the emerging lower carbon markets. Initial targets include alternative energy sources like geothermal and hydrogen, energy storage and carbon capture, including utilization and sequestration technologies.
“Nabors as a company has always had in its DNA to differentiate from the competition and having a portfolio of solutions to back this up is certainly in line with that vision,” Meissner wrote. “As we started developing in this space, we identified further business opportunities and the possibility to branch out to different business lines like geothermal.”
To date, Nabors has partnered with three leading-edge geothermal companies, Geo-X Energy, SAGE Geosystems and Quaise Inc, to deepen its existing geothermal experience and evaluate new commercial business models. Nabors is leveraging its global footprint, extensive knowledge of subsurface conditions and expertise in well construction to advance and accelerate …….
Source: https://www.mrt.com/business/oil/article/Nabors-making-investments-in-energy-transition-16707269.php
