In a significant move at the United Nations Climate Change Conference (COP28) in Dubai, NNPC Ltd. has affirmed its dedication to collaborate with global partners in the mission to curtail methane emissions within the oil and gas sector.
The Oil and Gas Decarbonization Charter was unveiled during the conference, urging the industry to strive for net-zero emissions in their operations by 2050. The Charter also entails commitments to achieve near-zero methane emissions and eliminate routine flaring by 2030.
Speaking at a panel session titled “Accelerating the Elimination of Methane Emissions & the Decarbonisation of Oil & Gas,” Oritsemeyiwa Eyesan, NNPC Ltd’s Executive Vice President, Upstream, emphasized the significance of the Charter, not only for NNPC Ltd but for the broader African sub-region.
In a statement signed by Olufemi O. Soneye Chief Corporate Communications Officer NNPC Ltd, Eyesan stated that Africa contributes three percent to emissions, but that does not exclude us from the consequences of the emissions. I think the decarbonization drive and the charter are not just ethical but also a strategic imperative for a major African National Oil Company (NOC) like ours.
Highlighting Nigeria’s commitment, Eyesan revealed that the country has designated this decade as the Decade of Gas, focusing on increasing gas production for both export and local consumption across the African sub-region.
Eyesan reassured stakeholders that NNPC Ltd is dedicated to working towards achieving zero-flare and methane emission reduction by 2030, aligning with the goals outlined in the Charter. Despite acknowledging finance and technology as significant challenges, she expressed the importance of collaboration with partners possessing the necessary resources.
Emphasizing NNPC Ltd’s commitment to sustainable practices, Eyesan mentioned the company’s plan to expand alternative energy sources, including investments in solar, wind, and other renewables.
LV