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- Energy Transition: The Path to Net Zero
- 24th World Petroleum Congress | 17 – 21 September 2023 | BMO Centre, Stampede Park | Calgary, Canada
Barry Blacklock, EnergiesNet
CALGARY
EnergiesNet.com 09 18 2023
The 26th Annual World Petroleum Congress begins today with non-stop presentations over the next four days by international experts and representatives of governments, national and international energy producers, technology developers, and service providers.
I wrote the following news article about last week’s Petroleum Technology Alliance Canada AGM, in lieu of a more detailed article about the organization itself. EnergiesNet readers will find it newsworthy, particularly those who work in the technology space.
A key take-away from the AGM is that PTAC is expanding its reach to global energy markets, where it can apply its collaborative model to arranging technical and financial support for the development, testing, and commercialization of green, clean, and renewable energy technologies.
If you have a technology that could benefit the Canadian and global energy industries, especially methane emissions reduction technologies, you can get more information at https://ptac.org/.
PTAC Reports Record Revenue, Announces Success in Collaborative Efforts for Canadian Oil and Gas Industry
Calgary, Canada – Petroleum Technology Alliance Canada (PTAC) hosted its 26th Annual General Meeting and Awards Luncheon on September 13, 2023, at the Calgary Petroleum Club. In a Message From the Board, Soheil Asgarpour, President and CEO since 2007, reported an unprecedented year of success for the organization, its most profitable to date, recording gross revenue of $14.7 million for the 2022-2023 fiscal period and surpassing nearly all of its corporate goals set in the previous year.
Financial and Member Satisfaction Metrics
This robust financial performance not only stands as a hallmark of PTAC’s success but also serves as a bellwether for the growth and stability of its member organizations. These fiscal milestones were further underscored by an 84% satisfaction rate among its members, as evidenced by a recent satisfaction survey.
Initiatives in SMEs and Digital Technologies
Key to PTAC’s record-breaking year was its renewed emphasis on collaborative innovation and strategic partnerships with Small and Medium-Sized Enterprises (SMEs). The organization executed 24 market fit analyses for SME technology providers, offering insights that refined their value propositions and technological capabilities.
In digital transformation, PTAC carried out 8 digital technology assessments aimed at accelerating the adoption of digitization within the industry. This focus will enhance resource extraction, improve financial performance, and stimulate overall sectoral growth.
Methane Emissions and Environmental Commitments
The past year also sharpened PTAC’s role in the battle against methane emissions, a critical environmental concern for the oil and gas industry. Through targeted projects and field tests, PTAC continues to contribute to significant reductions in methane emissions from the oil and gas sector, aligning the industry closer to its emissions reduction targets.
Role as Manager of AUPRF and Community Outreach
As the manager of the Alberta Upstream Petroleum Research Fund (AUPRF), PTAC launched 19 new projects and managed 29 ongoing initiatives. These endeavours address high-priority environmental and social matters within Alberta’s oil and gas sector and assist in the development of smart policies, regulations, and best practices by politicians and regulators.
In terms of community engagement and knowledge dissemination, PTAC hosted a spectrum of events, from small-scale technology information sessions to international conferences. Notable among these were the sold-out Net Zero Conference and Expo in November 2022 and the Methane Leadership Summit in April 2023.
International Collaborations and Future Plans
Extending its collaborative footprint beyond Canadian borders, In March 2023, PTAC undertook its first international trade mission to CERAWeek in Houston, Texas, in collaboration with 13 export-oriented SMEs, showcasing Canadian technological innovation on a global platform.
A new international relationship was formed with Scotland’s Net Zero Technology Centre. It will serve as a model for future agreements with like-minded institutions internationally.
PTAC’s international efforts included the initiation of new virtual events that facilitated knowledge-sharing among industry experts worldwide, targeting regions such as the US, Australia, Pakistan, Indonesia, and South America.
Looking Ahead
As it prepares for the next fiscal year, PTAC aims to escalate activities centered on achieving net-zero emissions by 2050, with a focus on best management practices, new technology solutions, and enhanced international collaborations.
Concluding Remarks
The board of directors, led by Soheil Asgarpour, emphasizes that the organization’s continued success is attributable to its active members and volunteers. Their collaborative innovation ecosystem is posited as a driving force behind the transformative changes observed within the Canadian energy industry.
EnergiesNet.com 09 18 2023
