PETROFAC SETS NEW TARGETS TO MEET UK’s NET ZERO GOAL

UK's Petrofac announced two important environmental and gender diversity targets to advance its broader sustainability agenda. Sustainability is at the core of Petrofac’s strategy and critical to creating long-term value for all stakeholders. The Company’s purpose is focused on enabling clients to meet the world’s evolving energy needs, and to work collectively with industry to achieve a more sustainable, inclusive and diverse energy sector.
Group Chief Executive Ayman Asfari said:
“Our vision is to be the preferred services partner to the energy industry, trusted to deliver to high quality and standards. Our sustainability agenda is key to this aspiration and the environmental and diversity targets we are announcing today represent a significant step forward.
“Our Net Zero target supports the principles of the Paris Agreement, the UK government’s Net Zero goal, and is aligned with our clients’ own ambitions as the sector moves to a net zero future. Our gender diversity target will help develop more women leaders for Petrofac and our industry, and builds on our work of increasing female representation at both Board and junior levels.
“Sustainability is at the core of our strategy, underpinning best-in-class delivery, future growth and enhanced returns. It allows us to help clients decarbonise their activities as well as our own; promote safe, local delivery and ethical value chains underpinned by rigorous compliance and governance; and build a diverse workforce that helps address the sector’s skills gap.”
“We aim to reduce our Scope 1 and 2 emissions to Net Zero by 2030, and work to influence our supply chain to set their own reduction targets. Our Net Zero Strategy of ‘Reduce, Transform, Enable’ will focus the business on three areas:

• Reduce - cut our emissions by implementing energy efficiencies and low carbon strategies on sites and operations, optimising our operations and methods of construction and advancing flare and venting reduction and carbon abatement plans.
• Transform - adopt new technologies such as phasing in hybrid and electric vehicles on site, decarbonising our heating and cooling systems by switching to renewable electricity where available and fitting smart building technology in our offices to maximise energy efficiency.
• Enable - support our clients, partners and suppliers in their lower carbon ambitions, enable flexible and agile working practices, continue to embed emission reductions targets in management scorecards and incentivise our staff to be advocates for Net Zero.”
(Source: Petrofac)

PETRONEFT COMMENCES COMMERCIAL DRILLING AT SIBKRAYEVSKOYE

July 25, 2017

PetroNeft, an oil & gas exploration and production company operating in the Tomsk Oblast, Russian Federation, and 50% owner and operator of Licences...

Read More+
SHELL PRELUDE ARRIVES IN AUSTRALIAN WATERS

July 25, 2017

Shell Australia today confirmed that its Prelude floating liquefied natural gas (FLNG) facility has arrived in Australian waters. Prelude is the first...

Read More+
YOKOGAWA ACQUIRES TechInvent2

July 25, 2017

Tokyo based Yokogawa Electric Corporation announces the acquisition of TechInvent2 AS, a Norwegian enterprise that holds the rights to FluidCom, a chemical...

Read More+
ANGLO AFRICAN TO DEVELOP TILAPIA FIELD IN CONGO

July 25, 2017

London based Anglo African Oil & Gas provided an update on activities with regards to the development of the producing Tilapia oil field ('Tilapia')...

Read More+
HALLIBURTON Q2 2017 RESULTS

July 24, 2017

Halliburton Company announced operating income from continuing operations of was $146 million and adjusted operating income of $408 million for the second...

Read More+
TEPCO ROBOTIC EXPLORATION OF UNIT 3 AT FUKUSHIMA DAIICHI

July 24, 2017

Starting July 19, TEPCO began a multi-day robotic exploration of the Unit 3 reactor at Fukushima Daiichi, with the aim of determining conditions inside...

Read More+
WEATHERFORD INTRODUCES RAPTOR 2

July 24, 2017

Weatherford International announced the commercial release of the Raptor 2.0 cased-hole evaluation system today at the Society of Petrophysicists and Well...

Read More+
PAKISTAN PETROLEUM COMPLETES NAUSHAHRO TIGHT GAS WELL

July 24, 2017

Pakistan Petroleum Limited (PPL) recently drilled and completed tight gas horizontal well Naushahro Feroz (NF) Hor-1. At total depth of 4,940 metres and...

Read More+
IEA: US SHALE GAS REVOLUTION DRIVES MARKET TRANSFORMATION

July 22, 2017

The global natural gas market is undergoing a major transformation driven by new supplies coming from the United States to meet growing demand in developing...

Read More+
SCHLUMBERGER Q2 2017 RESULTS

July 22, 2017

Schlumberger Q2 2017 revenue increased 8% sequentially while pretax operating income rose by 25%, resulting in earnings per share growth of 40%. Beyond...

Read More+
MAERSK OIL INSTALLS THIRD CULZEAN JACKET

July 21, 2017

The Maersk Oil operated high pressure, high temperature (HPHT) Culzean development in the UK North Sea has reached a key milestone with the safe installation...

Read More+
SCHLUMBERGER TO ACQUIRE MAJORITY SHARE IN EURASIA DRILLING COMPANY

July 21, 2017

Schlumberger announced today an agreement to acquire a majority (51%) equity interest in Eurasia Drilling Company Limited (EDC). Based in Moscow, EDC is...

Read More+