How should oil & gas companies prioritise upstream decarbonisation?

Much of the oil & gas industry’s emissions reduction efforts are based on reducing emissions intensity as much as possible. The best ultra-low intensity fields benefit from subsurface and above ground advantages and show what’s possible for the other 80% of fields. But, the list of ultra-low intensity fields includes some of the world’s largest emitters in absolute terms. So, prioritising decarbonisation efforts based purely on emissions intensity is not the best approach. Quantifying the decarbonisation potential of assets and portfolios needs to consider both emissions and commercial metrics. This Insight introduces the Wood Mackenzie Decarbonisation Potential Index which combines proprietary datasets into a unique ranking to help benchmark opportunities, compare progress and help companies analyse their portfolios.