Net Zero and energy transition
Our approach
We support the ambition of the NSTD and are committed to contributing to the energy transition by producing oil and gas responsibly while low-carbon technologies develop. We aim to achieve Net Zero for our net equity Scope 1 and 2 CO₂e emissions by 2040, ten years ahead of the NTSD target.
Recognising the importance of immediate action, we focus on reducing emissions as far as reasonably and economically practical. As our operations grow, we will continue prioritising climate-responsible, low-intensity production and, where necessary, mitigate residual emissions through verified carbon credits
Net zero strategy
Our Net Zero Policy forms the basis of our current transition planning initiatives, and is supported by our Methane Implementation Plan and Emissions Reduction Action Plans (ERAPs). Our Methane Implementation Plan clearly outlines our methane reduction targets and reduction plans for each asset and ERAPs have been established for each field. To support these emissions reduction plans, we are also investing in R&D to determine the feasibility of large-scale GHG emission reduction projects (e.g., electrification) across our assets.
Our Net Zero Policy was established in 2025 and lays out strategic priorities and an implementation roadmap across three phases:
Reduce emissions
Phase 1 is concentrated on reducing our emissions across operated and non-operated assets over a short term timeframe (2026-2030)
Transition our portfolio
Phase 2 prioritises transitioning our portfolio to lower carbon intensity assets over the medium term (2030-2035)
Achieve and sustain
Phase 3 aims to achieve and sustain Net Zero through offsetting hard to abate residual Scope 1 and 2 emissions in the long-term (2035-2040).
Case study: Captain
Major tie-ins were completed on the Captain WPP to allow commissioning of the flare gas recovery system in 2026. This will reduce CO2e emissions by up to 14,000 tonnes a year, around 8% of the total field emissions. Additional major tie-ins were completed to allow the reinstatement of export gas compressor B, which will improve compression reliability, increasing production efficiency and reducing flaring.
Preparations have been made on board the Captain FPSO so that the fired heater burners may be replaced early next year, reducing our NOx emissions by almost 50%, improving efficiency, and enabling dual fuel firing from 2027.
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