Unlocking decarbonization potential: Evaluating electrification impacts of emerging technologies in the oil and gas sector

• Electrification and CCS technologies significantly reduce CO 2 emissions in the O&G sector. • PEM technology efficiently integrates renewable energy (RE) for green hydrogen production. • ALK technology shows limited effectiveness in current RE applications. • CCS and PEM technologies enhance energy efficiency and contribute to sustainable decarbonization. • Empirical analysis identifies the impact of emerging technologies on energy generation and emissions. Our study delves into the intricate relationship between energy generation and carbon emissions, revealing a compelling correlation that underscores the interconnectedness of economic growth, energy usage, and environmental impact. Through rigorous empirical analysis, we evaluate the effectiveness of cutting-edge technologies such as Carbon Capture and Storage (CCS), Alkaline Electrolysis (ALK), and Proton Exchange Membrane Electrolysis (PEM) in mitigating carbon emissions within the Oil and Gas (O&G) industry. Our findings shed light on the varying impacts of these technologies on electricity generation, renewable energy (RE) consumption, and carbon emissions, providing crucial insights for policymakers, industry leaders, and researchers navigating the transition to a sustainable energy future. By highlighting the challenges and opportunities in deploying decarbonization technologies effectively, our study calls for collaborative efforts to optimize infrastructure, refine policy frameworks, and drive innovation towards a more sustainable and resilient energy landscape. Through data-driven analysis and strategic recommendations, our research empowers stakeholders to make informed decisions and accelerate the shift towards a decarbonized O&Gsector, paving the way for a greener, more sustainable future.