North Sea oil firm NEO Energy said today it would strive to cut the carbon intensity of its production operations in half by 2030.
Publishing its Low Carbon Transition Plan, NEO said it recognised climate change was one of the world’s greatest challenges, requiring thoughtful and urgent action.
NEO Energy outlined a set of ambitions to reduce its carbon emissions.
To achieve its carbon intensity goal, NEO vowed to invest in technology and systems, such as the full or partial electrification of our operations, required to reduce carbon output.
In addition, NEO currently funds research by the Centre for Doctoral Training and PhD students in Geoscience and the Low Carbon Energy Transition, the UK’s leading training and research body for the energy industry with a focus on decarbonisation.
Chief executive Russ Alton said: “Through creative thinking, innovation, agility and adaptability we will be a positive agent for change in how the UK oil and gas industry contributes to the energy transition.
“Our Low Carbon Transition Plan focuses on how we will reduce carbon emissions today and put net zero at the heart of our future growth strategy, without compromising value creation or the role we play in employing and investing in people and the communities in which they live.”
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