Highlighting and designing innovative solutions for the energy industry of the future: our subsurface engineering expertise, technological capabilities and innovative capacity have allowed us to develop sustainable energy production approaches. And crude oil plays a significant part in this. There is still no substitute for valuable domestic oil – and this is unlikely to change any time soon.
Crude oil is the base material for countless products and technologies that currently play a dominant role in our everyday lives and will continue to do so in future.
In contrast to producing synthetic natural gas, synthetic oil production is very complex and expensive. So sustainability, efficiency and sparing application are vital in the production and use of crude oil. Local production also makes a major contribution to boosting security of supply.
Crude oil should be used carefully for specific applications where it is essential. The focus needs to be on recycling, not disposal. Recycling high-value plastics reduces Austria’s dependence on imports, protects the environment and is a key element of a sustainable circular economy. The addition of oil components enables high-quality recycling, and in turn – as far as possible – a sustainable, uninterrupted material cycle.
In the near future, the biggest source of demand for oil will in all likelihood no longer be the transport sector, but industry. And oil will not be used primarily as an energy source – above all, its value will lie in its role as an indispensable raw material in industrial manufacturing and the medical sector, and as an integral part of high-quality, everyday products.
“We always consider subsequent use for renewable energy as part of every project.”
RAG E&P’s production of crude oil reflects its commitment to meeting its responsibilities as part of a sustainable energy sector in the future. The emphasis is on sustainable material production: eco-friendly production of a valuable raw material – crude oil – integrated into a sophisticated circular economy. Efficient reuse of disused and depleted reservoirs for renewable energy storage or geothermal projects also forms part of RAG E&P’s sustainability strategy.
“We see domestic oil production as ‘sustainable material mining: eco-friendly production of a valuable raw material – crude oil – integrated into a sophisticated circular economy.”