Reducing carbon emissions: Good for the environment and business.
Halliburton acknowledges the growing global consensus that human activity, through the use of fossil fuels, contributes to the increasing concentration of greenhouse gases (GHG) in the atmosphere. This is widely believed to be a contributory factor in global warming thus impacting climate change. We track emissions of CO2 [including methane but excluding nitrous oxide] from our primary sources.
Carbon capture and storage (CCS) is widely considered a primary means to reduce emissions of CO2 and other GHG in the atmosphere. CCS involves transporting CO2 from power plants and other industrial businesses to depleted saline aquifers and oil and gas reservoirs. CO2 is injected into the reservoirs via wells and must be monitored for decades to detect and prevent leakage.
Halliburton brings more than 30 years of experience working with carbon dioxide injection for enhanced oil recovery (EOR) that is directly applicable to CCS. Halliburton has been the leading provider of well services and products for EOR projects, with market share well over 50 percent in several product service lines. These projects now have more than 15,000 wells operating to inject CO2, produce oil and recycle CO2 from production.
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