THE RELEVANCE OF GEOSCIENCES IN THE ENERGY TRANSITION - AN APPLIED INDUSTRY PERSPECTIVE

Geologists have been at the core of industry business models in oil and gas for over a century – it is within geological formations high value oil and gas has formed, is explored for and exploited. But will geosciences remain at the core of industry in the energy transition, and will geologists remain relevant amidst internal and external expectations to form new and sustainable energy value chains? Broad energy companies today invest in a series of geoscience-related business opportunities from traditional oil and gas on one side, carbon capture and storage (CCS), renewables like wind and solar, minerals to nature-based solutions on the other side. In a decade, the industry geologist’s work has changed dramatically. While pure, classic subsurface geology and geophysics only a few years back dominated the tasks of the energy industry geologist, presently themes such as above-ground sustainability issues related to the use of space, anthropogenic effects and not least the use of water need to be evaluated. The application of geosciences must be strengthened as industry business decisions to an increasing degree are exposed to a wider array of risks at the expense of hard core geological knowledge. However, the application and scope must broaden, be more digital and develop enhanced mapping and measuring techniques. Such a change is in line with the UN's Sustainable Development Goals. Geosciences have direct implications for mapping and valuation of all natural resources and license to operate as a broad energy company.

We live in the Anthropocene, or “the Age of the Humans” and human impact of industry activity is a risk at corporate level that requires geoscientific knowledge. This impact comes in various forms such as use of space at industrial sites to the geological effects of human-induced climate change on top of natural change. Energy density plays an important role and renewable energy projects are not free of sustainability issues. Considering total value chains from mineral sourcing to waste removal needs geologists who understand the core science. CCS requires knowledge on storage volume and injectivity, but mostly on storage integrity - keeping CO₂ in the ground, the very reason CCS is done. Geology plays a vital role for creating robust business models for project origination, development and execution - and only industry can build the energy transition.