- Net-zero goal supports company plan to reduce Upstream
greenhouse gas emissions intensity
- Elimination of routine flaring in Permian Basin operations by
year-end 2022
- Electrification of operations in New Mexico and Texas will
include low-carbon power sources
- Expands and accelerates methane monitoring, equipment upgrades
and flaring reduction
ExxonMobil said today it plans to achieve net zero greenhouse
gas emissions from operated assets in the U.S. Permian Basin by
2030, accelerating and expanding its emission-reduction plans for
unconventional operations in New Mexico and Texas. The plans are
part of the corporate-wide effort to reduce Upstream greenhouse gas
emissions intensity by 40-50% by 2030, compared to 2016 levels.
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ExxonMobil currently operates
ground-based monitors around the Permian Basin and plans to
increase deployment to enhance methane monitoring as part of the
company's plans to achieve net zero greenhouse gas emissions.
Ground-based systems provide continuous and real-time monitoring at
production sites. (Photo: Business Wire)
“Our groundbreaking plans to reach net zero for Permian Basin
operations further demonstrate our commitment and support of
society’s ambitions for a lower-emissions future,” said Darren
Woods, chairman and chief executive officer. “We have plans to
reduce greenhouse gas emissions intensity across our businesses by
deploying the capabilities and technical strengths that are
foundational to ExxonMobil.”
The greenhouse gas emission-reduction efforts in the Permian
will be supported by electrifying operations, continuing
investments in methane mitigation and detection technology,
eliminating routine flaring, upgrading equipment, and employing
emissions offset technology, which may include nature-based
solutions.
The company plans to electrify its operations with low-carbon
power, which may include wind, solar, hydrogen, natural gas with
carbon capture and storage, or other emerging technologies.
ExxonMobil plans to expand its methane detection programs utilizing
satellite surveillance and a network of ground-based sensors for
continuous monitoring, and aerial flyovers that identify leaks for
rapid repairs.
By year-end 2021, ExxonMobil anticipates reduced flaring volumes
across its Permian Basin operations by more than 75% compared to
2019. The company plans to eliminate all routine flaring in the
Permian by year-end 2022, in support of the World Bank’s Zero
Routine Flaring initiative. The company is also securing
alternative natural gas delivery points across the basin to
minimize non-routine flaring.
“Our goal of net zero for Scope 1 and Scope 2 greenhouse gas
emissions is one of the most ambitious and wide-reaching in the
Permian Basin,” said Bart Cahir, senior vice president of
unconventional at ExxonMobil. “Throughout the value chain, our
people are working hard to help reduce the greenhouse gas emissions
associated with the products that enable modern life.”
ExxonMobil has demonstrated a strong track record of setting and
achieving aggressive greenhouse gas emission-reduction goals. The
company is on track to exceed its 2025 greenhouse gas
emission-reduction plans announced in December 2020. Year-end 2021
results are expected to show a reduction of 15-20% in greenhouse
gas intensity from Upstream operations compared to 2016 levels,
four years ahead of schedule. This is supported by an anticipated
reduction of 40-50% in methane intensity and 35-45% in flaring
intensity compared to 2016.
Plans for the Permian Basin further support ExxonMobil’s
corporate methane reduction objectives and are aligned with the
U.S. and European Union-led Global Methane Pledge to reduce methane
emissions by 30% by 2030.
To validate its emissions-reduction efforts, ExxonMobil is
working with an independent validator, non-profit MIQ through a
pilot program initially focused on Poker Lake facilities in New
Mexico. Through the program, natural gas will be certified based on
a series of factors including methane intensity and will be
marketed to customers early next year. The certification process
could be expanded to other production areas based on demand.
ExxonMobil’s 2030 net zero goal for the Permian Basin will
require the support of well-designed policies and advances in
technology that increase availability and reliability of
carbon-neutral power in the region, including wind and solar.
Through long-term purchase contracts, the company supports the
development of wind and solar power generation.
At the end of the third quarter 2021, ExxonMobil reported
producing an average of 500,000 barrels of oil equivalent per day
from its unconventional assets in the Permian Basin, accounting for
more than 40% of the company’s U.S. net production. As production
increases in the Permian, greenhouse gas emissions are expected to
be mitigated accordingly. Costs associated with lower-emissions
technology are included in the corporate plan through 2027, which
was announced earlier this month.
About ExxonMobil
ExxonMobil, one of the largest publicly traded international
energy companies, uses technology and innovation to help meet the
world’s growing energy needs. ExxonMobil holds an industry-leading
inventory of resources, is one of the largest refiners and
marketers of petroleum products, and its chemical company is one of
the largest in the world. To learn more, visit exxonmobil.com and
the Energy Factor. Follow us on Twitter and LinkedIn.
Cautionary Statement
Statements of future aims, goal, events or conditions in this
release are forward-looking statements. Actual future results,
including the achievement of the aims to reach Scope 1 and 2 net
zero in Upstream Permian Basin operated assets, to eliminate
routine flaring in-line with World Bank Zero Routine Flaring in
Permian operated assets, to reduce methane emissions, to electrify
Permian operations, and associated project plans and technology
efforts could vary depending on the ability to execute operational
objectives on a timely and successful basis; changes in laws and
regulations including international treaties and laws and
regulations regarding greenhouse gas emissions and carbon costs;
trade patterns and the development and enforcement of local,
national and regional mandates; unforeseen technical or operational
difficulties; the outcome of research efforts and future technology
developments, including the ability to scale projects and
technologies on a commercially competitive basis; changes in supply
and demand and other market factors affecting future prices of oil,
gas, and petrochemical products; changes in the relative energy mix
across activities and geographies; the actions of competitors;
changes in regional and global economic growth rates and consumer
preferences; the pace of regional and global recovery from the
COVID-19 pandemic and actions taken by governments and consumers
resulting from the pandemic; changes in population growth, economic
development or migration patterns; and other factors discussed in
this release and in Item 1A. “Risk Factors” in ExxonMobil’s Annual
Report on Form 10-K for 2020 and subsequent Quarterly Reports on
Forms 10-Q, as well as under the heading “Factors Affecting Future
Results” on the Investors page of ExxonMobil’s website at
www.exxonmobil.com.
ExxonMobil-operated emissions, reductions and avoidance
performance data are based on a combination of measured and
estimated data using best available information. Calculations are
based on industry standards and best practices, including guidance
from the American Petroleum Institute (API) and IPIECA. The
uncertainty associated with the emissions, reductions and avoidance
performance data depends on variation in the processes and
operations, the availability of sufficient data, the quality of
those data and methodology used for measurement and estimation.
Changes to the performance data may be reported as updated data
and/or emission methodologies become available. ExxonMobil works
with industry, including API and IPIECA, to improve emission
factors and methodologies.
Exxon Mobil Corporation has numerous affiliates, many with names
that include ExxonMobil, Exxon, Mobil, Esso, and XTO. For
convenience and simplicity, those terms and terms such as
Corporation, company, our, we, and its are sometimes used as
abbreviated references to specific affiliates or affiliate groups.
Abbreviated references describing global or regional operational
organizations, and global or regional business lines are also
sometimes used for convenience and simplicity. Nothing contained
herein is intended to override the corporate separateness of
affiliated companies.
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