Hurricane Energy is exploring strategies to minimize its operational emissions as section of efforts to decarbonise the UK’s upstream sector.
Avenues being explored encompass lowering operational emissions on the Aoka Mizu floating manufacturing storage and offloading (FPSO) vessel and offsetting greenhouse gases via 1/3 birthday celebration schemes.
In its 2020 environmental, social and governance (ESG) report, Hurricane printed its emissions depth is presently above the UKCS average.
That’s regardless of CO2 emissions depth on Aoka Mizu, which the organization is presently attempting to negotiate an extension for, declining yr on year, from 47.6kg a barrel (bbl) in 2019 to 41.2kg a bbl.
Hurricane continued a gruelling 2020 as it dealt with the influence of Covid-19, as properly as a “significant downgrade” to reserves and future manufacturing forecasts at its flagship Lancaster field.
Antony Maris, the Aberdeen-based firm’s CEO, said: “Despite these challenges, during 2020 we did no longer lose center of attention on embedding ESG elements into approach and every day operations, as nicely as improving the transparency and readability of our reporting.
Hurricane Energy new CEO
Antony Maris is CEO of Hurricane Energy
“In June 2020, we mounted an ESG Committee of the Board, formally accountable for managing the Company’s ESG exposure, and integrating the administration of local weather alternate and the electricity transition into the Company’s approach and enterprise plan.
“I am especially thrilled to file our preliminary disclosures towards the TCFD recommendations, making precise on one of the foremost commitments we made in the 2019 report.
“For this 2020 report, we extend the scope of our greenhouse fuel emissions reporting past CO2 to consist of the greenhouse gases focused by means of the Kyoto Protocol, as properly as consisting of Scope 1 greenhouse fuel emissions from our offshore logistics chain. As a result, we are now aligned with OGUK emissions definition.”
Mr Maris additionally stated that Hurricane is utterly in the back of the Oil and Gas Authority’s approach replace to “include a internet zero goal for UKCS greenhouse fuel emissions”, as nicely as OGUK’s internet zero ambitions.
Hurricane plans to align itself with each targets, as nicely as these set out in the UK Government’s Energy White Paper and the North Sea Transition Deal.
Mr Maris said: “The safety, protection and improvement of our personnel stays a important focal point for our business. The pandemic has limited offshore crew movements, limiting offshore crewing to vital personnel solely in view that March 2020.
“I am proud of the way that Hurricane’s personnel have tailored and labored intently with our stakeholders to manipulate the have an impact on on the Company, and to date, we have now not skilled any massive detrimental operational affects from COVID-19.
“We need to additionally understand a accountability to our personnel to make sure they are properly located to capitalise on possibilities generated with the aid of the electricity transition – in particular, that capabilities are upgraded the place appropriate. This is an place we are keenly focussed on and I seem ahead to reporting again on these efforts in due course.”
Hurricane has continued a torrid time of late, with its shareholders these days rebuffing a proposed restructuring layout – a last selection will be made in court.
Meanwhile, activist investor Crystal Amber, which holds 14.32% of the company’s shares, has moved to oust the company’s 5 non-executive directors, with a assembly due to be held subsequent month.