It is the nature of small and mid-cap companies to be the drivers of innovation and at the forefront of technological advancement. Whilst they may not have the same level of resources that large-cap companies do, they tend to have more niche expertise and be more entrepreneurial and agile in adapting to a rapidly changing business landscape.
This will not change in the future but companies will need to continue to apply themselves in new and evolving ways as ‘business as usual’ is no longer usual, and the demands and concerns of the wider world increasingly shape the future of all businesses now more than ever. With the legitimate concern of climate change, companies need to address the challenge and the role of carbon emissions in this. There can be no sensible forecast for global energy needs that does not include oil and gas for the foreseeable future, but we should demand and ensure that this much needed source of reliable and low-cost energy is supplied with the lowest possible carbon footprint.
For Lundin Petroleum, as one of Europe’s leading exploration and production oil companies, we are at the forefront of producing oil with a record low carbon footprint to meet the world’s ever-growing energy demand. By 2022, our two main producing assets will emit less than 1kg of CO2 per barrel of oil produced, compared to a global average of 18kg. We will achieve this by developing creative solutions and using highly advanced technology to reduce carbon emissions, lower operating costs and increase production efficiency.
It is this level of tangible and impactful innovation that small and mid-cap companies can deliver, and where they lead others will follow. Together we will be able to solve the challenges that we face and ensure not only continued global, economic prosperity but a cleaner more sustainable future for all.
Hear more from Alexandre Schneiter, speaking at the 2019 World Energy Capital Assembly and on the panel “Thriving in a Low Carbon Era – Energy Transition, Investor Sentiment and Oil & Gas Companies of the Future“.
Alexandre Schneiter, President and Chief Executive Officer, Lundin Petroleum