HONEYWELL INTRODUCES END-TO-END EMISSIONS MONITORING SOLUTION FOR OFFSHORE OIL & GAS PLATFORMS AND MARINE VESSELS
Offshore oil and gas assets can leak methane at much higher rates than land operations
Mumbai, August 6, 2024 – Honeywell (NASDAQ: HON) today announced its Emissions Management Suite is now Hazardous Location (HazLoc) and marine certified, making it one of the industry’s first end-to-end solutions for offshore oil and gas assets to measure, monitor, report and reduce emissions. Within its Emissions Management Suite, Honeywell has also added new solar capabilities into the Honeywell Versatilis™ Signal Scout™ hardware, expanding the lifespan of the gas detector by more than eight years with little additional maintenance requirements.
By helping the energy industry reduce its environmental footprint, the Emissions Management Suite supports Honeywell's alignment of its portfolio to three compelling megatrends, including energy transition and automation.
Emissions management and monitoring are critical for shallow water offshore oil and gas platforms that can leak methane at much higher rates than land operations. For example, the methane loss rate of shallow water offshore oil and gas platforms in the Gulf of Mexico can range from 23-66%, compared to similar upstream land operations in the Permian Basin that can range from just 3.3-3.7%, according to a study by Cabon Mapper.i These unknown emissions can leave companies with offshore assets prone to regulatory hyperspectral satellite inspections, which could lead to large fines if a super-emitter event is detected.
Honeywell’s optimized solution provides offshore oil and gas assets with near real-time visibility for platform operations, enabling quick event response and the ability to balance emissions performance with production. At an enterprise level, this can allow flexibility to drive production from low emissions platforms while ramping back high emissions assets until repairs are completed, maintaining production while controlling emissions.
“By continuing to innovate, Honeywell is now able to provide an end-to-end solution that enables marine vessels and offshore platforms to accurately measure and report fugitive emissions when they happen,” said Pramesh Maheshwari, President of Honeywell Process Solutions. “With the help of our Honeywell Forge Sustainability+ for Industrials software, we are moving the industry forward by helping companies reach net-zero operations, both on land and offshore.”
Honeywell’s Emissions Management Suite is an effective solution for companies to measure fugitive emissions levels and help take action to reduce them. The solution is available now for several verticals including upstream and downstream oil and gas, refining, chemicals, utilities and more.
For more information, please visit process.honeywell.com/us/en/initiative/emissions-management-solution.
About Honeywell:
Honeywell is an integrated operating company serving a broad range of industries and geographies around the world. Our business is aligned with three powerful megatrends – automation, the future of aviation and energy transition – underpinned by our Honeywell Accelerator operating system and Honeywell Forge IoT platform. As a trusted partner, we help organizations solve the world's toughest, most complex challenges, providing actionable solutions and innovations through our Aerospace Technologies, Industrial Automation, Building Automation and Energy and Sustainability Solutions business segments that help make the world smarter, safer and more sustainable. For more news and information on Honeywell, please visit www.honeywell.com/newsroom.
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1Carbon Mapper: Study suggests offshore oil and gas production in Gulf of Mexico has higher methane loss rates than typical onshore production
