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Texas 75083-3836 U.S.A., fax +1.972.952.9435. AbstractConcern about global climate change, and the challenges and risks it poses, will require sustained efforts to develop understanding and effective solutions while at the same time meeting the growing needs of society for energy. The development and utilization of technologies to capture and then store CO 2 in underground formations offer significant potential for reducing CO 2 emissions. This paper is based on the outcomes of an IPIECA workshop to advance understanding of the role of CO 2 capture and geologic storage, and strategies to improve its performance and prospects. It considers CO 2 capture and geological storage as a potential option for reducing future emissions of Greenhouse Gases (GHGs) from the extraction of resources, the production and use of fuels, and the generation of electricity. In doing so it examines: roles CO 2 capture and geologic storage may play over the next century extending from the current assessment of this technology family; risk management to ensure safe and secure geologic storage drawing from understanding and past experiences; public perception, policy and regulatory frameworks that pose opportunities and barriers for CO 2 capture and geologic storage and; initiatives and strategies to advance CO 2 capture and geologic storage by reducing cost and risk, and developing sound regulatory and policy frameworks to encourage development of options for deep reductions in CO 2 emissions. IntroductionConcern about global climate change, and the challenges and risks it poses, will require sustained efforts to develop understanding and effective solutions while at the same time meeting the growing needs of society for energy. Development and utilization of technologies to capture and

Concern about global climate change, and the challenges and risks it poses, will require sustained efforts to develop understanding and effective solutions while at the same time meeting the growing needs of society for energy. The development and utilization of technologies to capture and then store CO2 in underground formations offer significant potential for reducing CO2 emissions. This paper is based on the outcomes of an IPIECA workshop to advance understanding of the role of CO2 capture and geologic storage, and strategies to improve its performance and prospects. It considers CO2 capture and geological storage as a potential option for reducing future emissions of Greenhouse Gases (GHGs) from the extraction of resources, the production and use of fuels, and the generation of electricity. In doing so it examines: roles CO2 capture and geologic storage may play over the next century extending from the current assessment of this technology family; risk management to ensure safe and secure geologic storage drawing from understanding and past experiences; public perception, policy and regulatory frameworks that pose opportunities and barriers for CO2 capture and geologic storage and; initiatives and strategies to advance CO2 capture and geologic storage by reducing cost and risk, and developing sound regulatory and policy frameworks to encourage development of options for deep reductions in CO2 emissions. Introduction Concern about global climate change, and the challenges and risks it poses, will require sustained efforts to develop understanding and effective solutions while at the same time meeting the growing needs of society for energy. Development and utilization of technologies to capture and then store carbon dioxide (CO2) in underground formations offer significant potential for reducing CO2 emissions. IPIECA convened an international workshop in October 2003 to advance understanding of the role of CO2 capture and geologic storage, and strategies to improve its performance and prospects. The workshop brought together experts from academia, business, governments, and intergovernmental and nongovernmental organizations to consider CO2 capture and geological storage as a potential option for reducing future emissions of greenhouse gases (GHGs) produced in the extraction of resources, the production and use of fuels and the generation of electricity. Four sessions examined:the roles that CO2 capture and geologic storage may play over the next century;risk management to ensure safe and secure geologic storage, drawing from understanding and past experiences;public perception, policy and regulatory frameworks that present both opportunities for, and barriers against, CO2 capture and geologic storage; andinitiatives and strategies to advance CO2 capture and geologic storage by reducing cost and risk, and developing sound regulatory and policy frameworks to encourage development of options for deep reductions in CO2 emissions. This paper summarizes the IPIECA Climate Change Working Group's understanding of the presentations and discussions at the workshop. We are grateful to all participants for their efforts and contributions throughout the workshop which, together with this publication, is part of an ongoing effort by IPIECA to provide constructive input on key climate change issues.

BP and other oil and gas companies have been engaged in efforts to address the risks and opportunities of global climate change for many years. Following the Paris Agreement of COP 21 in 2015 there has been a renewed focus and energy for action. At the corporate level, integrated oil and gas companies, such as BP, are exploring options to reduce the carbon intensity of their products across the whole lifecycle to better prepare their businesses for a low-carbon future. Managing GHG emissions in upstream oil and gas production activities by improving efficiency and reducing flaring is one element of this. This paper aims to highlight a pragmatic approach to managing carbon emissions from offshore installations operating on the UK Continental Shelf (UKCS) that helps maintain competitiveness and maximizes economic recovery in this mature basin. It does so by illustrating the key challenges and opportunities associated with managing carbon emissions in the UKCS. The challenges are multiple and complex: Energy Intensity: Increasing energy consumption is required to maintain production from depleting reservoirs, and for new developments which often require pressure support and/or are from multiple small fields that deplete quickly.Plant Vulnerabilities: As equipment and infrastructure age the likelihood of failures increases leading to more frequent and potentially more challenging unplanned shutdowns and reduced plant reliability.Plant Optimisation: As reservoirs deplete topside plant design is often no longer optimized for production rates and well fluid compositions.Resource Constraints: Capital and offshore constraints such as bed space, or competing priorities such as safety critical maintenance, mean there are significant practical constraints which limit offshore maintenance and modification workscopes.Policy and Legislation: Can create incentives, through carbon pricing, which drive energy efficiency. However, in practice instruments such as the EUETS have not achieved this in the oil and gas sector. This is because EUETS rules do not recognize the unique characteristics of the offshore industry and because the carbon price has remained low for the last 5 years. Despite the challenges there are opportunities to reduce and avoid emissions in the UKCS through: Operational efficiency: achieving stable, reliable plant by addressing the underlying causes of poor operational efficiency has great potential to reduce GHG emissions relative to production in the near term at no incremental cost.New technology: economic deployment of appropriate technologies on new and existing installations has the potential to reduce GHG emissions. The benefits of pursuing these pragmatic opportunities include: Maximized economic recovery of hydrocarbonsReduced GHG emissions relative to productionLower exposure to carbon price under the EU ETS