Oil and Gas News

Maersk Drilling aims high with CO2 target

Maersk Drilling has set an ambitious target of lowering the intensity of carbon dioxide (CO2) emissions from its drilling operations by 50 per cent by 2030.

The company expects the reduction target to make it a leader among drilling contractors, with it in line with most oil and gas companies’ 2030 targets and supporting the ambitions of the Paris agreement.

Maersk chief executive officer Jørn Madsen described climate change as one of the biggest challenges facing the society today and something the company wanted to do its part in addressing.

“The global demand for energy is rising and the expert consensus is that renewable energy will not be able to replace all traditional energy production within the foreseeable future. Therefore, the answer must be to provide affordable energy, including oil and gas, while keeping CO2 emissions under control. Our contribution to a sustainable energy future is to significantly reduce emissions from our operations and to explore ways to store CO2,” Madsen said.

As part of its reduction target, the company’s initiative includes the first-ever rig to operate on shore power and the upgrade of two of the world’s largest jack-ups to hybrid, low-emission rigs.

Maersk Drilling estimates that about half the target can be achieved via further efficiency gains and known technical solutions and concepts, while the other half will be facilitated by investments in innovation in this space.

The target will be measured as tonnes CO2 emissions relative to three parameters: contracted days, drilled metres, and revenue, with 2019 being the baseline year.

“Sustainability is an area of concern, also for our customers, and by being a leader in low-emission offshore drilling, we maintain a differentiated offering which can help customers in reaching their targets. Investing in climate action is a key focus area for us and we are committed to being at the forefront,” Madsen added.

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