“Why do oil and gas remain important today?” asked Graham Young, VP EMS Operation at Harbour Energy, at the recent TAC Insights conference for SAP for Energy and Utilities in Toulouse.
“The global energy demand won’t stop growing,” he explained. “As renewables only provide a small share of the energy we currently use, we’ll still need oil and gas that are safely produced as we transition to a lower carbon world.”
Crude oil still remains indispensable where alternatives are limited, particularly in heavy transport and the chemicals industry, and natural gas plays a key role in the low-carbon transition, both as an energy source and in large-scale hydrogen production.
A unique model
What’s interesting about Harbour Energy, one of the world’s largest and most geographically diverse independent oil and gas companies, isn’t just that it’s big. What’s interesting is how it got big and how it operates differently from traditional energy companies. The company was founded in 2014 by private equity firm EIG Global Energy Partners with a goal to build a global, independent company by acquisition.
