Energy evolution means a change in the mix and the quantity of energy sources
We are kicking off our Energy Evolution series with Global Sustainability Manager Smitha Hariharan. In this series, Halliburton leaders will share their thoughts on the energy evolution and the role of innovation and new technology.
1. What does the energy evolution mean to you?
Energy evolution means a change in the mix and the quantity of energy sources. With the discovery of new viable sources of energy and energy storage, the supply mix of energy is evolving. Solar, geothermal, and wind energy only add to existing energy sources like coal, oil, and natural gas. With growing demand for energy, including reliable oil and gas, the energy evolution means all these energy sources will play a role in the future of energy supply.
2. What value does the evolution bring to the energy industry?
The energy industry has always evolved and adapted. It’s easy to see that over the last 100 years, energy today is more reliable, safer, efficient, affordable, and technologically advanced. The energy industry and its evolution are symbiotic. This evolution allows us to generate and consume cleaner energy from traditional sources and reduce our operational emissions, while renewable sources continue to develop and add to the overall energy mix. The way I see it, the energy evolution creates opportunity to rely on decades of experience and our global footprint to explore and scale multiple sources of energy.
3. What are you and your teams doing to contribute to the evolution?
One of Halliburton’s strategic priorities is to advance a sustainable energy future. We work on a consistent global standard for emissions tracking, sustainability training for all employees, and a sustainability roadmap to further align with our customers’ energy evolution journey. In 2022, we released a toolkit to empower our business development team to collaborate with customers to track emissions and implement low-environmental impact solutions. We are building a low emissions solutions portfolio and a carbon inventory system that will allow customers to compare emissions during planning and post operations. My team is also a key contributor in the creation of sustainability labels and the integration of these labels into our service delivery workflows.
4. What does the future look like as we continue to move towards a lower carbon footprint?
Globally, we see different levels of maturity and traction toward low carbon initiatives, which government regulations and customer requirements influence. I believe the demand for cleaner oil and gas will initially gain traction in economies that can support higher supply costs, then learning from these efforts will help other economies transition to low-carbon energy much faster.
5. How does Halliburton help our customers reach their sustainability goals?
We provide products and services that help customers reach their sustainability goals today. Our Zeus II e-frac offering is a prime example. Our technical and scientific expertise and our global experience help customers decarbonize their oil and gas operations, reduce their environmental impact, and lower their emissions, water consumption, and waste production. We also bring our expertise to solve carbon capture and storage (CCS) and geothermal challenges. Customers can now review our technology sustainability matrix and choose low-carbon products and services that align with their sustainability goals.
