In Ecuador, Innovation Leads to Significant CO2 Reduction

[Judi Lynn]

In Ecuador, Innovation Leads to Significant CO2 Reduction
March 24, 2015


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Transporting fuel-flexible power generators in Ecuador.

Photo by Petroamazonas
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STORY HIGHLIGHTS

Petroamazonas EP, Ecuador’s state-owned oil company, has enacted a strategy to reduce CO2 emissions by five million tons and reduce the overall footprint per barrel of oil

Innovative technologies, including fuel-flexible power generation facilities, are a central component of the country’s gas flaring reduction program

The active involvement and integration of an array of stakeholders, translates to shared benefits

remote oil-producing region. Limited financial resources. A lack of infrastructure. These are just some of the broad challenges Ecuador faced as it explored ways to optimize its valuable natural oil and gas resources while ensuring the country preserved its diverse and unique Amazonian ecosystem.

By global standards, Ecuador’s oil industry is relatively modest. Proven oil reserves are approximately seven billion barrels, ranking the country 20th globally. Notwithstanding this modest ranking, the oil sector plays a prominent role in the country’s politics and economic welfare, accounting for about 50 percent of Ecuador’s export earnings and about one-third of all tax revenues.

Ecuador’s major oil fields are located within the Amazon region, where spectacular biodiversity and fragile ecosystems are treasured and admired around the world. Because of technical and economic challenges, associated natural gas from oil production, was vented and flared rather than utilized, releasing significant amounts of CO2 and other pollutants into the atmosphere. According to the United States National Oceanic and Atmospheric Administration, in 2011 Ecuador vented and flared more than 400 million cubic meters of natural gas. The government recognized something had to be done to harness and utilize this valuable resource.

More:
http://www.worldbank.org/en/news/feature/2015/03/24/in-ecuador-innovation-leads-to-significant-co2-reduction