Produced water (PW) is, by volume, the largest waste product of the oil- and gas-exploration industry and contains pollutants such as hydrocarbons and heavy metals. To meet the stringent environmental regulations, PW must be treated before discharging into the environment. The current study proposes a novel treatment method where PW is used to prepare oil-in-water emulsion with potential applications within the oil-exploration industry. The emulsions are prepared by applying hollow fiber membrane emulsification (ME) on PW, which inherently contains oil, as to-be-dispersed phase. The results demonstrate that the average droplet size of the emulsions is a function of pressure applied on to-be-dispersed phase and could be customized from 0.24 to 0.65 µm by varying the pressure from 0.25 to 1 bar, respectively. Stability of the emulsions was verified under high pressure and a temperature and storage period of more than 24 h. The calculations showed that an ME unit with <100 kg weight and <1 m3 volume is appropriate to transform the daily average volume of PW from the Danish part of the North Sea into the emulsions. The study provides a novel route, which also complies well with the requirements (low-weight and small spatial footprints) of the offshore oil rigs, to treat and reuse PW within the oil production process and, therefore, eliminates its environmental footprint.