Challenges
The successful remediation of 1 Billion Ton of oil waste poses many challenges. Some of these challenges we can meet already.
Some of these challenges provide opportunities for new technology, new approaches, new thinking and new capabilities.
Here we will list challenges we believe the oil industry and waste management industry needs to solve. We will list opportunities for new capabilities that will unlock new ways to address the problems posed by this legacy waste.
Finding the right wells
There is a huge amount of fragmented data spread around offices of oil companies, regulators, environmental agencies and local & state authorities. AI could sift through this data and identify the wells most at risk of leaking and direct us to the most suitable treatment technology
Evaluating the Oil Waste Sites
We don’t know where many of the sites are, what is in these sites and which ones are a threat to the environment. Which ones are close to communities? How do we prioritise which sites to remediate? What approach should we select? AI can help analyse satellite images and other Earth Observation data. Industry info can be used to augment this data
Connect Finance & Environment
The oil industry and the waste management industry require significant financial resources to address the enormous projects. There is often substantial risk and there are many uncertainties in the nature of the waste that will be encountered. ESG credits and other financial instruments are critical to unlock opportunities for the environmental sector.
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