The UK’s offshore oil and gas industry committed to halving operational emissions in the next decade on Tuesday, industry body Oil & Gas UK (OGUK) revealed.
A new report published by OGUK outlines how targets will be achieved through changes to operations, progressive reductions in flaring and venting and major capital investment programs aimed at using electricity, rather than gas, to power offshore facilities.
The targets are a key part of a “transformational” sector deal that industry is now formally discussing with the UK government, according to OGUK. This deal has jobs, the supply chain and energy communities at its core and will consider how the UK’s oil and gas industry can support a green recovery, OGUK outlined.
“The coronavirus pandemic and low oil and gas prices have had a devastating impact on the UK’s offshore oil and gas industry,” OGUK Chief Executive Deirdre Michie said in an organization statement.
“Given the limited impact that the severity of the lockdown has had on global emissions, it is clearer than ever that we need a fair, inclusive and sustainable transition towards climate targets. We need a green recovery which supports jobs, supply chain companies and energy communities,” Michie added.
“We remain committed to addressing the challenge of climate change, as we outlined in our Roadmap 2035 published last year. Our industry will play its part by reducing its emissions and using its skills to develop the solutions that will be needed to make a significant contribution to the UK’s overall targets,” Michie continued.
The UK government minister for energy Kwasi Kwarteng said, “the offshore oil and gas sector’s commitment to halving operational emissions over the next decade is a welcome step for an industry that has a vital role to play in our energy transition in the years to come”.
“The UK government will continue to work tirelessly with all partners to deliver a dynamic sector deal. This will further support the industry in becoming more sustainable as we work towards achieving net zero emissions by 2050,” he added.