September 30, 2021 Read More →

Arctic oil majors Rosneft, Equinor sign joint deal to reduce carbon

The Barents Observer:

The two companies that over the past ten years have been engaged in close cooperation on oil drilling, exploration and production say they now intend to take joint action on carbon management.

An agreement signed by the companies on the 28th September includes an ambition to “develop low carbon solutions and reduce the carbon footprint from joint projects.”

According to Equinor, both companies are determined to “support the goals of the Paris Agreement.”

The press release issued by Rosneft does not mention the Paris Agreement, nor any ambition to fight climate change. But the Russian company underlines that the cooperation with Equinor will help “assess the potential of using technologies and equipment for detection, measurement and reduction of greenhouse gas emissions.”

It will also help the companies achieve zero routine flaring of associated petroleum gas by 2030, Rosneft informs.

Furthermore, the new agreement includes an ambition to develop new joint projects in the field of wind power, CO2 capture and storage, as well as production of blue and green hydrogen.

[Atle Staalesen]

More: Two Arctic oil majors say they are determined to fight climate change

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