Sunday, February 5, 2023

Tullow Oil aims for net zero by 2030 on Scope 1 and 2 emissions

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Tullow Oil, a company with interests offshore Guyana, says it plans to become a net zero by 2030 on its Scope 1 and 2 emissions.

It said it will achieve this through decarbonising activities to eliminate flaring on its operated assets in Ghana.

A company’s Scope 1 emissions are direct greenhouse gas (GHG) emissions that occur from sources that it controls or own, such as those associated with boilers, furnaces, and vehicles. Scope 2 emissions are indirect GHG emissions associated with a company’s purchase of electricity, steam, heat, and cooling.

On its non-operated assets, Tullow plans to work with its partners to eliminate flaring. It also plans to pursue a nature-based carbon removal programme to offset hard-to-abate emissions.

The reduction of Tullow’s carbon emissions, it said, will see an increase in the gas handling capacity at its Jubilee operation in Ghana. Jubilee came on stream in 2010 with oil production capacity of 120,000 barrels per day (bpd).

Tullow is the operator of the Jubilee oil field with a 38.98% stake.

Similar gas handling capacity increases are expected for its TEN operation. Also in Ghana, TEN achieved first oil in 2016 with oil production capacity of 80,000 bpd. Tullow is operator of the TEN field with equity of 54.84%.

The company expects these investments to contribute to the elimination of routine flaring offshore Ghana by 2025.

In Kenya, Tullow said its Net Zero 2030 target will be achieved through limiting carbon emissions and offsetting any hard-to-abate emissions.

It has also established a Net Zero Task Force to track progress on initiatives being delivered and funded by its non-operating partners.

Tullow is seeking out nature-based carbon removal projects. It said a feasibility study has been completed, identifying a significant scale opportunity covering the Western Transitional Zone in Ghana. It is currently finalising a Letter of Intent with Ghana’s Forestry Commission, detailing key activities and information requirements to inform a Final Investment Decision (FID).

Tullow has a 60% operated interest in the Orinduik Block and a 37.5% non-operated interest in the Kanuku Block. However, it has not yet made any discovery deemed to be commercial.

International Oil Companies (IOCs) are increasingly moving to support the global energy transition and fight against climate change by implementing emissions reduction projects.

ExxonMobil, a major IOC, intends to make its Permian Basin operations net zero by 2030 on Scope 1 and 2 emissions. It intends to be net zero worldwide by 2050.

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