On Thursday, independent UK oil company Harbour Energy plc announced that it became a signatory to the World Bank’s ‘Zero Routine Flaring by 2030’ initiative. Accordingly, by signing the agreement, the company committed to end all routine flaring by 2030.
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In fact, the initiative brings together governments, oil companies and NGOs to work to eliminate routine flaring during this time lapse.
What is Harbour doing to achieve this ‘end all routine flaring’ commitment?
Therefore, to achieve this commitment, Harbour Energy is taking significant steps within its operations to reduce emissions. Also, to be Net Zero for Scope 1 and 2 emissions by 2035.
Similarly, to reach this target, the company is deploying a range of decarbonizing initiatives. For instance, these include upgrades to gas turbines, and reducing fuel and power consumption. Also, exploring options for low or zero-carbon energy to power platforms. Lastly, participating in multiple initiatives to explore opportunities for CO2 capture and storage.
In this sense, Harbour Energy will continue to report emissions, including a breakdown of flaring, on an annual basis.
Accordingly, Linda Z. Cook, CEO of Harbour Energy commented;
“At Harbour Energy our purpose is to play a significant role in meeting the world’s energy needs; particularly, through the safe and efficient production of hydrocarbons, while creating value for our shareholders.”
Moreover, “by endorsing this important initiative to stop routine flaring, we are reinforcing our commitment to responsible operations; specifically, as we target Net Zero emissions by 2035.”