- Baker Hughes and EGPC will reduce emissions across upstream and downstream sites using Baker Hughes’ emissions management portfolio of technologies and solutions
- The Memorandum of Understanding will help manage and recover emissions across Egypt’s oil and gas sector
- Collaboration will be showcased at COP27 to demonstrate decarbonization initiatives from energy industry
CAIRO – Feb. 15, 2022 - Baker Hughes has signed a Memorandum of Understanding (MoU) at the 2022 Egypt Petroleum Show (EGYPS) with the Egyptian General Petroleum Corporation (EGPC) that aims to establish and drive a flare recovery initiative to support emissions recovery and reduction across Egypt’s upstream and downstream oil and gas operations.
To enable flare recovery from oil and gas sites across Egypt, Baker Hughes will leverage its portfolio of emissions management solutions including flare management technology, compression, gas turbines, and integrated processing systems that can help in the measurement, management, recovery, and utilization of flare gas.
Through the deployment of Baker Hughes’ emissions management solutions, EGPC will aim to to reduce emissions and improve the efficiency of its oil and gas operations across the country. This will include reducing the amount of gas flared and vented into the environment, enabling EGPC to drive more efficiency by reutilizing the gas that would otherwise go to waste.
In addition, and in support of the Ministry’s Modernization Program, Baker Hughes solutions, including flare.IQ, will contribute to digitalizing emissions management infrastructure by enabling EGPC to pull critical information about its flare systems to calculate optimum levels of flare efficiency and help reduce methane emissions.
Baker Hughes’ emissions management solutions will support EGPC’s decarbonization strategy, contributing to helping achieve ambitious carbon reduction targets, including positively impacting the quality of life for residents living in areas neighboring refineries.
“As part of Egypt’s sustainable development vision, we are actively exploring opportunities that support our strategy of using clean energy and reducing emissions to accelerate our journey towards net-zero,” said HE Tarek El Molla, Egyptian minister of petroleum and mineral resources. “We are proud of EGPC’s collaboration with Baker Hughes to deploy technologies that can help us manage and recover emissions across oil and gas operations, which is a key pillar in driving the energy transition in Egypt.”
“With a history stretching more than 100 years, Baker Hughes is proud to continue its partnership with Egypt and transform core oil and gas operations,” said Lorenzo Simonelli, chairman and CEO of Baker Hughes. “We are committed to reaching net-zero by 2050, and our emissions management solutions help our customers reach similar goals and can directly benefit Egypt’s sustainable development vision. We look forward to COP27 being hosted in Egypt, where we will continue to support the country’s climate change agenda, as well as the broader region’s just transition to new and sustainable sources of energy which are vital for its people and economy.”
As Egypt prepares to host COP27 in November 2022, the Ministry of Petroleum and Mineral Resources aims to showcase data and findings from this project during the summit to demonstrate the role of the oil and gas sector in driving the country’s decarbonization initiatives.
About Baker Hughes
Baker Hughes (NASDAQ: BKR) is an energy technology company that provides solutions for energy and industrial customers worldwide. Built on a century of experience and conducting business in 120+ countries, our innovative technologies and services are taking energy forward – making it safer, cleaner, and more efficient for people and the planet. Visit us at bakerhughes.com.
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