ExxonMobil Plans Net Zero Greenhouse Gas Emissions by 2030 in Permian Basin Operations

Source: ExxonMobil

ExxonMobil, a NASEO Affiliate member, has announced a plan achieve net zero greenhouse gas emissions (Scope 1 and 2) from operated unconventional oil and natural gas production in the Permian Basin by 2030. The Permian Basin today represents more than 40% of ExxonMobil’s net U.S. oil and natural gas production.
Solutions under development include:

  • Enhancing operations protocols, including implementation of a comprehensive methane-monitoring and leak-detection program.
  • Electrification of operations.
  • Sourcing electricity from renewables and other low-carbon sources.
  • Minimizing flaring, including eliminating routine flaring in the Permian by year-end 2022 in line with the World Bank Zero Routine Flaring Initiative.
  • Potentially using voluntary emissions offsets to address residual emissions.

This effort is part of ExxonMobil’s 2030 greenhouse gas emission-reduction plans, which were announced last week, and will be supported by $15 billion the company expects to invest through 2027 in lower-emission initiatives.  Please see the news release on the company’s website for more information.