Orcadian

ESG & Emissions Dashboard

Environmental credentials — polymer EOR and gas-to-wire with CCS

96%

Lower emissions with polymer vs steam concept

Pilot Field — same reservoir, transformative technology choice

Annual CO₂ Emissions — Pilot Field

Steam Concept (2019 FDP) 350,000 t/yr
Polymer Concept (current) 15,000 t/yr

Steam Intensity

25 kg

CO₂/boe

Polymer Intensity

1.5 kg

CO₂/boe

Steam requires continuous heating of heavy oil reservoir — massive energy consumption. Polymer works at ambient temperature — only diesel generators for platform power.

Carbon Intensity Benchmark (kg CO₂/boe)

UK Average Oil
20
Captain (polymer)
12
Kraken
18
Mariner
22
Pilot (steam)
25
Pilot (polymer)
1.5

Pilot polymer: lowest carbon intensity of any UK heavy oil development

CO₂ Intensity — Industry Benchmark

kg CO₂ per barrel of oil equivalent — Pilot polymer vs global comparables

Pilot (polymer)
12 kg
UK onshore average
18 kg
North Sea average
22 kg
Global heavy oil avg
80 kg
Steam (Pilot alt.)
120 kg

96% reduction vs steam alternative. Polymer flood operates at ambient reservoir temperature (~31°C / 88°F), eliminating the massive energy cost of heating 254 MMbbl of heavy oil. At 12 kg CO₂/boe, Pilot would be among the lowest-intensity heavy oil developments globally.

Earlham CCS Credentials

Capture Rate

95%

CapsolGT technology

CO₂ Captured

500kt

per year stored

Net Emissions

Negative

storing reservoir CO₂

Methane Losses

Zero

gas-to-wire avoids transport

CCS Flow — Earlham Gas-to-Wire

Gas Reservoir

343 bcf cluster

49% CO₂ content

MOGU Platform

4× GE LM6000

300 MW capacity

CapsolGT

95% CO₂ capture

Hot K₂CO₃ solvent

Power Export

AC cable to shore

RWE agreement

CO₂ Stored

500kt/yr re-injected into depleted reservoir

NSTA Alignment Checklist

MER UK / OTNR compliance compliant

Polymer maximises recovery from 12% (waterflood) to 47% RF

Emissions reduction pathway leading

96% lower emissions than steam alternative

Net zero contribution contributing

Earlham CCS stores 500kt CO₂/yr, net negative possible

Flaring & venting minimisation compliant

Gas-to-wire concept eliminates flaring entirely

🔶
Electrification readiness planned

MOGU platform designed for future wind power integration

⚠️
Decommissioning provision watch

HALO liability ring-fenced. Pilot decom in Ping carry.

ESG Investment Thesis

Pilot (R3)

Polymer EOR eliminates need for steam generation. 96% lower emissions. Lowest carbon intensity of any UK heavy oil project. Aligns with NSTA MER UK mandate — maximises recovery without maximising emissions.

Earlham (R4)

Gas-to-wire with CCS is a net-negative emissions concept. 500kt/yr CO₂ stored. No methane transport. Contributes directly to UK net zero pathway. Could qualify for CCS subsidies.

Portfolio

Combined portfolio offers hydrocarbon production with genuinely differentiated environmental credentials. Potential ESG premium vs conventional North Sea operators.