APA Corp. has achieved its goal of reducing upstream routine flaring in Egypt by 40%.
The company said it had achieved the ESG goal ahead of schedule. It has carried out “numerous” projects to cut emissions this year.
“Our approach to ESG is consistent and intentionally challenging, focusing on near-term actions that drive immediate, high-impact results,” said John Christmann IV, APA’s CEO and president.
Oil and gas will play a critical role for the world for decades, he said. “We will continue to minimise our environmental impact while meeting rising energy demand. We are confident in the impact of the steps we are taking to reduce our emissions across operating areas.”
Egypt, hosting COP27, has set out a number of decarbonisation plans recently.
The company has linked 20% of all employees’ annual incentive compensation to achieving various ESG goals. It took this step in 2020.
APA included the commitment to reduce Egyptian flaring by 40% in 2022 on its list of goals – so success will have a direct impact on employees’ rewards. APA has also instituted other indicators that have an impact on compensation, including supplier diversity and the “employee work experience”.
APA’s teams carried out a number of initiatives to cut emissions. These included new compressors, to move gas from flaring to sales. It also carried out a flare-to-power plan, which used captured gas to replace previously diesel-fired generation. As a result this move reduced flaring and also diesel consumption.
Apache Egypt country manager David Chi said a dedicated team had found “pragmatic solutions to reduce flaring … We are pleased to see these efforts come to fruition and look forward to responsibly supporting Egypt’s emergence as a regional energy hub.”
APA ended routine flaring onshore in the US in October 2021. At that time, Christmann said the company would not bring on new wells in the US without adequate gas takeaway capacity.
Recommended for you