Statoil cautious on Norwegian carbon target

Offshore staff

STAVANGER, Norway – The Norwegian Oil and Gas Association has revealed plans to implement new carbon-dioxide (CO2) reduction measures on the Norwegian continental shelf (NCS).

The target is a 2.5-million metric ton (2.755-million ton) reduction by 2030 over 2020 levels.

Statoil’s goal is to maintain profitable production at the 2015 level going forward, said Arne Sigve Nylund, executive vice president for development and production Norway.

Previously the company set a goal of cutting its annual NCS carbon emissions by 1.2 million metric tons (1.32 million tons) by 2020 compared with 2008.

CO2 emitted from oil and gas production on the NCS is about half the average in the global oil and gas industry, Statoil claimed, adding that Norway is leading the way in related technologies and operates the most stringent framework conditions for climate change.

Special actions in Norway must be carefully considered, the company cautioned, and must lead to genuine emission reductions rather than establishing framework conditions that reduce the competiveness of the NCS.

Statoil remains committed to developing low-emission technology for oil and gas production, but the company added that achieving that goal will depend on the costs associated with the new technology.

“The goal we have now set ourselves is definitely ambitious, and we do not know at this stage how to achieve it. But this was also true in 2008, when we set ourselves a stretch target for 2020 which we have already achieved,” Nylund said.

08/18/2016

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