Crescent Petroleum, an upstream oil and gas company in the Middle East, has outlined a range of efforts to ensure a sustainable future for the company and the region in the decades ahead
Crescent aims to further reduce its already low level of gas flaring from operations and is implementing plans to eliminate the use of all single-use plastics.
It has also continued to improve on a variety of sustainability programmes at its regional operations to reduce its use of water, electricity and fuel, and its overall impact on the environment.
Majid Jafar, CEO of Crescent Petroleum, has announced the company’s sustainability efforts on the opening panel of the Atlantic Council Global Energy Forum.
Crescent has worked to cut its carbon intensity per barrel equivalent to less than one-third of the industry average, with plans to reduce it even further. Moreover, Crescent Petroleum has brought its overall flaring down to 0.7 per cent of production, with aspirations to bring that figure down to nearly zero in the coming years.
The company stated that its gas production over the past decade has itself helped avoid 33mn tonnes of CO2 by replacing diesel with gas to generate power. That reduction is the equivalent to removing all the UAE’s nearly three million cars off the road for two years and PwC estimates that this impact will more than triple in the coming decade.
As part of the effort, Crescent Petroleum launched its Crescent Ideas Forum discussion series with a roundtable session entitled “Empowering the Low Carbon Transition”. The high-level event hosted industry leaders and senior officials to discuss “The Role of Oil and Gas Companies in the Energy Transition,” a white paper produced by the Atlantic Council and sponsored by Crescent Petroleum that outlines how energy companies can lead through the energy transition and help reduce carbon emissions around the world.
“We have shown how vast GHG emission benefits can be derived from natural gas and we intend to apply our experience in the regions we operate. We must bring our know-how to help solve some of the region’s key challenges for the betterment of the region and its people. That vision informs and focuses our sustainability efforts across our operations in the UAE, Iraq and beyond,” he concluded.
