A major concern with the oil industry is that, like most industrial activities, it can have an adverse impact on the sustainability of the environment. The greatest concern as far as the impact is the release of waste into the environment at increased concentrations, which could result in higher pollution levels and accelerate the rate at which climate change occurs. The adverse environmental impact can be minimized or eliminated in almost all cases by implementing technologies that can reduce these effects. Consequently, the oil and gas industry has placed greater emphasis in recent years on minimizing the environmental impact of its operations upstream, midstream, and downstream. The purpose of this chapter is to provide background on the oil and gas industry and why environmental sustainability is so important. Various solutions have been proposed, and challenges associated with implementing them have been identified, as well as new research directions that are being tested and may require further improvement.
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Today, the advancements in science and biotechnology have made it possible for mankind to gradually study and investigate the natural resources that make up our planet through the application of modern science and technology. There have been various activities that have improved the lives of people in many parts of the world, such as the exploration of fossil fuels, the discovery of crude oil, the consumption of crude oil-related products (kerosene, diesel, gasoline etc.) (Epstein, 2014). The oil and gas industry is a multi-billion dollar enterprise that impacts a number of things, including the global financial climate, the environment, and the daily lives of millions of people around the world (Epstein, 2014; Williams, 2004).
Although there has been significant volatility in the sector due to the sudden developments in the energy industry in recent years, it has nevertheless remained a hot spot for investors and business owners (Cherepovitsyn et al., 2018). Not just because of the potential for economic prosperity, but also because of the long-term implications for security, health, ecological, and societal factors. The oil and gas industry encompasses a wide range of activities encompassing exploring, extracting, processing, delivering, and distributing hydrocarbon-based fuels and products throughout the world (Mojarad et al., 2018). In terms of dollar value, this sector is currently the world's biggest market in terms of the amount of resources invested (Epstein, 2014; Williams, 2004).
It has been reported that certain interventions have a downside in that chemicals, heavy metals, solvents, and other materials that are required for those developments can be harmful to the environment, humans, and aquatic life in some cases (Allen, 2016a; Boothroyd et al., 2016; Burgos et al., 2017; Hildenbrand et al., 2016). It is important to keep in mind that pollutants and contaminants are any substances released into the environment that are unwelcome. The presence of pollutants has always been a part of life on earth, despite the fact that they are a persistent problem. Global warming, comets, space dust, organic dust, volcanic activities, smoke, and comets, have all contributed to the pollution of the earth throughout history (Markham, 2019).
There has been a steady increase in the recovery of oil and natural gas from low-permeability unconventional shales and tight rocks over the past decade with horizontal drilling and high water volume hydraulic fracturing (X. Li et al., 2016). There has been a rapid increase in energy sources, resulting in a decline in dependence on energy imports, improving energy security; however, environmental challenges may limit future growth in energy supplies on global energy markets as a result of environmental challenges. The global consumption of fossil fuels is not expected to change significantly until the year 2040, regardless of changes in policy and environmental conditions (Scanlon et al., 2020).