Dril-Quip’s Green By Design Initiative Targets Offshore Energy Transition

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As an emerging clean energy capital, the City of Houston is spearheading a U.S. energy transition and is home to several local service companies that are pioneering innovative technologies for a cleaner future. Enter Dril-Quip: a Houston-based manufacturer of offshore drilling and production equipment targeted at deepwater applications. The company designs and manufactures subsea, surface and offshore rig equipment for the oil and gas industry and drilling contractors in offshore areas globally.

Earlier this month, Dril-Quip officially launched its Environmental, Social and Governance platform to promote the ongoing environmental and social initiatives that it has implemented in support of company-wide sustainability goals. One strategic initiative is ‘Green by Design,’ which links sustainability across Dril-Quip’s entire product portfolio and R&D program, with a view to lowering carbon emissions, reducing environmental risk, maximizing operational efficiencies and facilitating an industry-wide energy transition for offshore oil and gas customers.

Since its inception in 1981, the company has pioneered the development of innovative, more efficient technologies. As a result, Dril-Quip is recognized for its broad range of drilling and production products that service offshore field developments and ensure that oil and gas drilling activities remain viable in a reduced carbon future. The company’s award-winning VXTe Vertical Subsea Tree System, for example, generates significant operational gains by eliminating the tubing head spool, which accounts for approximately 40 tons of hardware. As a result, the subsea technology saves customers up to two weeks of rig time and up to four million dollars per well compared to traditional tree systems. In terms of its carbon footprint, the VXTe system reduces carbon emissions by as much as 1,000 metric tons per tree, which is the equivalent of eliminating 181 cars in the U.S. from the road for one year for each tree installed. In total, the vertical tree system utilizes less energy to manufacture, transport and install subsea trees.

In addition to its trademark subsea tree system technology, Dril-Quip is seeking to leverage its existing product portfolios within geothermal and carbon capture and storage (CCS) technologies. As the offshore drilling industry increasingly adopts green technologies, operators are engaging with new ways to capture carbon and store it in offshore subsea storage facilities. For Dril-Quip, the company is looking into injecting carbon into existing reservoirs, similar to drilling a water injection well for water flood on a field development. In terms of geothermal activities, the company has dedicated substantial resources to developing high temperature environments and targeting new technologies that build upon its existing R&D prowess.

Energy Capital & Power (ECP) – in partnership with the African Energy Chamber’s U.S.-Africa Committee – invites U.S. companies, investors and organizations to participate in the first-ever U.S.-Africa Energy Forum (USAEF) (October 4-5, 2021, Houston, Texas), introducing American companies to African opportunities. To learn more about how U.S. firms can advance the agenda of sustainable, long-term investment in African energy, please visit www.energycapitalpower.com. To sponsor, speak or attend USAEF 2021, please contact Senior Director James Chester at james@18.198.47.39

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Grace Goodrich

Grace Goodrich

Grace Goodrich is a Publications Editor at Energy Capital & Power, where she writes about the intersection of energy, policy and global finance in sub-Saharan Africa's fastest-growing economies. Grace produces our Africa Energy Series investment reports in Angola and Equatorial Guinea (2019), as well as co-authored African Energy Chamber: Road to Recovery (2021).

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