The nations of the world are increasingly aligning on a shared ambition to address anthropogenic climate change. Balancing the need for climate action with the world’s growing demand for secure and affordable energy in all forms is a complicated challenge. The upstream oil and gas producing industry is at the centre of this challenge, both as a supplier of energy and as a source of greenhouse gas (GHG) emissions, and therefore has a necessary role in finding solutions.
At Valeura Energy, we recognise the foundational need to consider climate change in all our decisions to ensure the sustainability of our business. That means remaining successful at our core business, while also reducing the GHG emissions and carbon intensity of our operations.
Our ambition is to support a transition toward a less carbon intensive energy supply mix to our customers, and to share our progress in a regular and transparent way with our stakeholders.
GHG Emissions and Carbon Management
We commit to evaluate, select, and undertake efforts to manage the impact of our operations. This includes relentlessly exploring new technologies and supporting projects and growth strategies to reduce the GHG emissions and carbon intensity of our ongoing and future business.
The world needs access to primary energy, and we recognise that each energy source has a different character with regards to its impact on climate. We aspire to evolve the mix of energy sources we produce, such that we can reduce the overall carbon intensity of our products. This includes seeking to acquire and develop lower carbon natural gas assets as part of a transitional energy strategy.
Focusing on the Future
We believe strongly in supporting and developing the capabilities of our people. We have prioritised core skill sets that support our current operations and believe the same expertise will be essential to support the future technologies and developments that will form a key part of the energy transition. This includes disciplines such as geoscience, engineering, operations, and logistics. We envisage a future wherein these disciplines will support GHG emissions abatement technologies such as carbon capture, utilisation and sequestration (CCUS) and will adapt to facilitate the transmission and distribution of energy from renewable sources. We will continue supporting human capital development and education to ensure our people have the skills required to make our climate ambitions a reality.