As reported by Bloomberg, people familiar with the matter said that ExxonMobil has an agreement with the company Crusoe Energy Systems, to take advantage of surplus natural gas in the oil field in Bakken, North Dakota. Such excess natural gas, which used to go to waste, is now being directed from oil well rigs to Bitcoin mining rigs.
ExxonMobil’s pilot project in North Dakota was launched in January of last year. Said project was expanded in July of that year, and currently monetizes around 18 million cubic feet of gas monthly. According to the aforementioned newspaper, ExxonMobil could not otherwise take advantage of all that energy resource that was previously wasted, and that is now transformed into bitcoins.
Bloomberg revealed that one of the people familiar with the matter stated that the oil company has plans to expand this project, not only within the United States, but beyond its borders.
America’s leading oil producer is contemplating developing a similar project at oil fields in Alaska, as well as Qua Iboe, Nigeria; in Vaca Muerta, Argentina; Guyanese and Germany.
“We continually evaluate emerging technologies aimed at reducing flaring volumes at our operations,” Sarah Nodin, an ExxonMobil spokeswoman, told Bloomberg. However, Nodin declined to comment on what she called “rumors and speculation about the pilot project.”
More and more oil companies are interested in mining Bitcoin with the excess natural gas that is wasted in the exploitation fields. In the middle of last month, one of the largest oil companies in the United States and the world, ConocoPhillips Company, announced that it was selling surplus natural gas to Bitcoin miners located in North Dakota. This initiative is part of its plans to gradually reduce the burning of natural gas and the emission of carbon dioxide.
On the other hand, in mid-2020, Arcane Research exposed that the multinational oil company Equinor, from Norway, would take advantage of the surplus natural gas in the Bakken oil field for the generation of electricity and Bitcoin mining, thus avoiding the burning of said gas. gas and greenhouse gas emissions. It should be noted that Equinor is one of the largest energy companies in the world.
Source: Ambito
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