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CARBON CREDITS

The next chapter in the oil and gas industry is shaped by innovative approaches to orphaned and idle well management, the integration of carbon markets, and verified emissions reduction strategies. Operators are now exploring the repurposing of idle wells and the sealing of orphaned wells as mechanisms to generate tradable carbon credits, attract new investment, and align with evolving environmental expectations.

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Oil and gas are not static. Market volatility, evolving regulatory landscapes, and rising environmental scrutiny have made it clear that legacy infrastructure requires a more resilient, modular, and forward-looking approach. For many operators, the future depends on transforming liabilities into opportunities, applying technologies for methane leak detection, well remediation, and advanced monitoring systems that ensure both compliance and profitability. In earlier years, the industry’s focus centered on production growth and asset expansion, but today the priority is addressing aging wells and emissions while maintaining energy security and business continuity.

How Orphan and Idle Well Management Is Changing the Industry

The landscape for orphaned and idle wells continues to evolve, driven by technology, policy, and market incentives. Many solutions have advanced in recent years, including enhanced plugging and abandonment techniques, carbon capture integration, and digital monitoring systems that track emissions throughout the lifecycle of a well. Across global markets, stakeholders are focusing on reducing complexity and shortening the time required for compliance with environmental standards. Low-cost, scalable, and open-access technology platforms are in high demand, enabling faster and more verifiable measurement and reporting of emissions reductions.

At the same time, governments and private investors are promoting innovations in well remediation and carbon credit generation. Human–machine collaboration plays a key role in this progress, with autonomous inspection drones, AI-driven leak detection, and robotic plugging systems now used to manage environmental risks more safely and cost-effectively. Cognitive analytics platforms are emerging as essential tools for validating carbon credits and ensuring transparency for regulators and investors alike.

Digital and Market Integration

Many companies are adopting digital twin models for idle and orphaned wells, virtual representations that allow engineers to simulate remediation strategies and emissions mitigation before allocating resources in the field. These digital platforms also support carbon market integration by providing verifiable data for emissions reduction projects. Early adopters will showcase platforms that connect operational data directly to carbon credit registries. Physical infrastructure and software are now more closely connected, with secure data environments enabling operators, regulators, and investors to collaborate on transparent carbon markets.

The growing availability of secure and standardized data spaces has opened the door to new business models. Verified emissions reductions from orphaned well plugging and methane mitigations can now be monetized as tradable carbon credits. This approach not only creates an additional revenue stream but also aligns operators with global climate objectives, fostering partnerships with financiers, technology developers, and governments.

Opportunities and Challenges Ahead

This new chapter for the oil and gas industry is defined by emerging opportunities, including the repurposing of idle wells for geothermal energy or CO2 storage, the use of mobile remediation units, and the capture of methane emissions that would otherwise escape into the atmosphere. It is also marked by new risks. Cybersecurity, regulatory uncertainty, and financing structures for large-scale remediation projects remain top priorities for industry leaders. Although optimism is strong about the potential of carbon credits and environmental restoration, the challenges are considerable, involving technical, financial, and legal complexities across multiple jurisdictions.

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Topics on the agenda

CARBON CREDITS AND WELL PLUGGING – ISSUES AND TRENDS

Day 1: undefined

11:30 - 11:55

IMPACT OF LEGACY WELLS ON CCS PROJECT FEASIBILITY SCREENING

Day 1: undefined

12:00 - 12:25

BENEFITS OF CLOSE PROXIMITY CONTINUOUS MONITORING AT ORPHANED IDLE WELLS

Day 1: undefined

14:00 - 14:25

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