Oil & Natural Gas Production industry
Environmental concerns with natural gas production are reaching a crescendo. Today, there are roughly 700,000 O&G wells in operation in the U.S., and in the last past five years alone more than 130,000 new wells have been drilled across the continent, averaging more than 2200 new wells per month. Natural gas use in the U.S. grew by 25% from 2007 to 2012. The U.S. DOE projects this share to grow significantly, and natural gas deposits are forecast to make the U.S. energy independent and a net energy exporter in the coming decades. Concerns over controlled (venting & flaring) and uncontrolled (leaks) methane release are growing, regulations are coming.
The initial GPI targeted market is the U.S. Oil & Natural Gas production segment, in the upstream well drilling and fracking production, processing, including ancillary equipment (compressors, dehydrators, storage tanks, etc.), and with extensions in the downstream for pipeline transmission and distribution.
The GPI sensing solution provides energy producers, operating companies, and fracking engineering firmsa highly accurate, quick and simple tool for the detection and measurement of methane leakage in the supply system. This allows improving site efficiency and safety, minimize production losses, reduce fugitive greenhouse gas emissions, and stay ahead of the curve in order conform to upcoming regulations.
Subsequent target markets
Although the primary focus of the PIGC development is to reduce methane emissions, there are other air quality co-benefits that may be achieved. In the upstream segment of the O&NG value chain, methane is sometimes co-emitted with volatile organic compounds (VOCs) and hazardous air pollutants, which can cause risk to public health and contribute to more regionalized environmental problems such as smog, contributing to elevated levels of ozone in the atmosphere. Therefore, it is anticipated that an important additional benefit of reducing methane leaks is improving air quality and supporting public health.
The capacity to measure a variety of trace gases open additional markets and applications for the monitoring of:
Electric power plants (coal & natural gas),
Oil refineries and chemical & petrochemical industries,
Urban air quality and pollution,
Agricultural sites & farms,
Biogas emissions in waste dumps and landfill,
Open-pit mines, etc.
The GPI technology and sensors also allow research activities like permafrost studies, volcanoes precursor, as well as forensic activities.