Friday 10 December 2021

ExxonMobil announces 2030 net zero target for Permian Basin

ExxonMobil has pledged to reach net zero emissions for its operations in the US Permian Basin by 2030.

Located across Western Texas and South-eastern New Mexico, the basin will become subject to electrification, methane mitigation and nature-based solutions to offset emissions.

ExxonMobil has revealed its desire to use low carbon power including wind, solar, hydrogen and carbon capture and storage (CCS) to cut the Permian’s environmental footprint and expects to see flaring volumes produced by its operations drop by more than 75% by the end of this year compared with 2019 levels.

To curb flaring, which is the controlled burning of natural gas, it is also securing alternative natural gas delivery points throughout the basin.

Non-profit MiQ will track the progress made by the company and validate its emissions-reduction efforts.

Bart Cahir, Senior Vice President, said: “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.

“Throughout the value chain, our people are working hard to help reduce the greenhouse gas emissions associated with the products that enable modern life.”