Expro wins funding for the development of carbon reduction technology

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Expro (NYSE: XPRO) has secured funding for two carbon reduction projects as part of an innovation program aimed at accelerating clean energy generation and closing the gap in net-zero technologies.

This press release is multimedia. View the full press release here: https://www.businesswire.com/news/home/20221013005123/en/

Steve Russell, Chief Technology Officer of Expro (Photo: Business Wire)

The Aberdeen-based Net Zero Technology Center (NZTC) has awarded a total of £8 million to fund net zero technologies under its Open Innovation Program 2022. The 20 winning technologies were selected from 154 qualified applications and are divided into seven areas of intervention. The technologies have gone through a rigorous selection process, ensuring that each supports the transition to net zero, with an obligation to test and deploy the technology on the UK continental shelf.

Expro obtained the two awarded projects in the Category Ventilation and Flaring.

Expro’s two winning projects relate to:

  • measurement and control of flare emissions in real time

  • a unique technological solution enabling well testing without the need for flaring

These illustrate Expro’s commitment to continuously evolve its portfolio of technologies and services to support the transition to net zero. Both projects build on the company’s existing capabilities to promote more measured and efficient means of flaring and to provide alternatives to traditional flaring, in support of operators’ carbon reduction commitments.

The NZTC estimates that the 20 successful technology projects will generate gross value added of £7.8 billion with an impact of 3.1 million tonnes of CO2and annually.

Expro Chief Technology Officer, Steve Russell, said, “We are thrilled to receive recognition and funding from this program to help further develop these technology solutions that will play a role in accelerating the journey of industry towards net zero.

“Technology is an essential part of advancing the energy transition, as is collaboration and partnership to achieve our collective goals. We are committed to addressing our own and industry’s effects on the planet, and this includes working with customers around the world to develop and implement solutions to reduce emissions from non-essential flaring.

Recent case studies demonstrating this approach include:

  • Expro recently helped a client in the Middle East reduce gas flaring and optimize production at 10 production sites. Expro undertook a detailed study to find an economical alternative to flaring. The solution was to use gas to power the compressors, which were delivered, installed and commissioned in 32 weeks. It is estimated that the accelerated project will reduce greenhouse gas (GHG) emissions by up to 10,000 tonnes of CO2and per day. The use of compressors has also reduced operational expenses while optimizing production and extending life in the field.

  • In Asia-Pacific, Expro supported a client by performing a two-well cleanup without hydrocarbon flaring. The campaign was part of a larger goal of reducing GHGs and unnecessary flaring during well operations. Expro designed and delivered a well testing process that saved approximately 4,000 tonnes of CO2e emissions during cleaning operations.

Find out more about Sustainable Energy Solutions (expro.com)

NOTES TO EDITORS:

About Expro

Working for clients throughout the lifecycle of wells, Expro is a leading provider of energy services, delivering cost-effective, innovative solutions and what society considers the best safety and quality of service. The company’s broad portfolio of capabilities spans well construction, well flow management, subsea well access, and well intervention and integrity solutions.

With roots dating back to 1938, Expro has approximately 7,200 employees and provides services and solutions to leading exploration and production companies in onshore and offshore environments in approximately 60 countries.

For more information, please visit: expro.com and connect with Expro on Twitter @ExproGroup and LinkedIn @Expro.

SPECIAL NOTE REGARDING FORWARD-LOOKING STATEMENTS

This press release and oral statements made from time to time by representatives of the Company may contain certain “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements include statements regarding, among other things , the company’s environmental, social and governance objectives, targets and initiatives, and are indicated by words or phrases such as “anticipate”, “outlook”, “estimate”, “expect”, “project “, “believe”, “consider”. , ” “goal”, “target”, “may”, “will”, and similar words or expressions. These forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause results, actual performance or achievements may differ materially from any future results, performance or achievements expressed or implied by such forward-looking statements. Forward-looking statements are based in large part on the expectations and judgments of the Company and are subject to certain risks and uncertainties, including many are unpredictable and beyond our control.Factors that could cause actual results, performance or achievements to differ materially include, among others, the risk factors identified in the company’s annual report on Forms 10- K, Forms 10-Q and Forms 8-K filed with the Securities and Exchange Commission. té assumes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events, historical practices or otherwise.

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