ExxonMobil, the US oil major, announced its plans to further reduce its greenhouse gas emissions intensity in its upstream operations this Monday. The company intends to reach net-zero GHG emissions from the Permian Basin by 2030.
Firstly, this new plan accelerates and expands the emissions-reductions programs that the company is undertaking in New Mexico and Texas. This new roadmap supports the goal of eliminating routine flaring in the Permian Basin by year-end 2022.
Moreover, it includes the electrification of operations in both states, using low-carbon electricity sources. This would include wind, solar, hydrogen, and natural gas with carbon capture and storage technologies. It also intends to strengthen and accelerate the monitoring and avoidance of methane leaks.
Darren Woods, CEO, said about the matter. “Our groundbreaking plans to reach net-zero for Permian Basin operations further demonstrate our commitment and support of society’s ambitions for a lower-emissions future.”
He also remarked. “We have plans to reduce greenhouse gas emissions intensity across our businesses by deploying the capabilities and technical strengths that are foundational to ExxonMobil.”
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ExxonMobil advancing strongly in net zero plans
In addition, ExxonMobil plans to expand its methane detection programs; utilizing satellite surveillance and a network of ground-based sensors for continuous monitoring; and aerial flyovers that identify leaks for rapid repairs.
As a result of the company’s current efforts, by year-end 2021, it would have reduced flaring volumes across its Permian Basin operations by more than 75% compared to 2019. Bart Cahir, senior vice president of unconventional at ExxonMobil, commented. “Our goal of net-zero for Scope 1 and Scope 2 greenhouse gas emissions is one of the most ambitious and wide-reaching in the Permian Basin.”
He also remarked. “Throughout the value chain, our people are working hard to help reduce the greenhouse gas emissions associated with the products that enable modern life.”
Finally, the company anticipated that by year-end 2021; it would have reduced 15 to 20% of the GHG intensity from its upstream operations; compared to 2016 levels, four years ahead of schedule.
