Now, to reduce its emissions further and shape its global portfolio in line with the Paris Agreement, it has set out a new series of short-, mid- and long-term climate ambitions. In its Norwegian operations it is targeting an absolute emissions reduction of 40% by 2030 – on the way to near zero carbon emissions by 2050.
The 2030 ambition translates into reductions of more than 5 million tonnes of CO2 equivalent and will be delivered through a combination of energy efficiency measures, electrification projects, consolidation, digitalisation and new value chains such as carbon capture and storage and hydrogen.
Electrification from hydropower and wind is already being installed at a number of offshore fields in Norway. Workers also engage on energy and carbon efficiency as a priority, facilities are compared to share good practice, and progress is visible to all.
As OGCI works towards a carbon intensity target that is consistent with the Paris goals, member companies are drawing on the lessons of Equinor’s experience.
Member companies are focusing on flaring reduction, efficiency improvements, electrification and the integration of renewables in their operations.
Reducing the upstream carbon intensity of Equinor’s oil operations is a major component of its ambition to reach net zero emissions by 2050. Most offshore oil production is powered by CO₂-emitting gas turbines and on average, about 15 kg of CO2 were generated for each barrel of oil equivalent (boe) produced worldwide in 2021.
Eni is using solar energy as a hybrid power option across a series of their oil and gas operations in emerging countries.
In 2018 Petrobras announced its support for the World Bank’s Zero Routine Flaring by 2030 initiative.
Total Energies launched its US$300 million Energy Efficiency Plan in 2018, aiming to reduce greenhouse gas emissions in its refining and chemicals operations by around one million tonnes of carbon dioxide per year.
Equinor has eliminated 2 million tonnes of annual CO2 emissions from its Norwegian operations over the past decade through energy efficiency initiatives.
Having reduced upstream operated carbon intensity by 20% since 2014, Eni is on track to achieve its company target of 43% reduction by 2025.
Chevron’s new solar plant is expected to provide approximately 80% of energy needs at the Lost Hills oil field
The Cracker of the Future consortium plans to develop technologies that can heat 800°C+ furnaces with electricity instead of fossil fuels.
