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Flaring

An organization’s options for the reduction or elimination of flaring are based on more than environmental impact or health and safety. They are derived from a complex set of variables impacting immediate financial consideration, as well as long term economic and public relations factors. Complex calculations are required for all existing well operations as well as new well planning. It is the industry consensus that some flaring will always be required for safety reasons.  Flaring is also an acceptable outcome for unexpected operational challenges.  Transportation and storage costs are untenable in many situations, so that limits the options for Oil and gas Operators.

Digital Technologies Directly Impact Flaring decisions

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The incorporation of blockchain into automated emissions tracking and Flare decision-making is much more than simply for the sake of automation, according to a recent Fortune Magazine article: “The oil and gas industry, like the rest of the economy, is generating increasing amounts of data, in part from the increasing application of the Internet of Things. This data is being analyzed and interpreted using artificial intelligence and machine learning, and robots are putting the data to work. This will create many efficiencies but one of the most important elements in the sector cleaning up its act will be the use of blockchain, Cann said. As the sector announces increasingly ambitious emissions reduction targets, it will come under growing pressure to prove that it is doing what it says it is. ‘Blockchain is what creates trust across all those different elements,’ Cann asserted. That’s because of its ability to track and record data in a way that is tamper-proof ‘so there is no dispute about whether the data is correct,’ he added. Blockchain provides traceability along the length of the value chain.”