Jersey Oil and Gas (JOG) has taken further steps to underline its ESG credentials with a new “carbon policy”.
The North Sea operator, due to for an investment decision on its Buchan redevelopment next year, said the document will help keep the firm’s emissions to “the lowest possible levels”.
Buchan, due for first oil in 2025, is going to be powered from shore, substantially reducing its greenhouse gas emissions.
The Jersey carbon policy means it will “identify” Scope 1, 2 and “material” Scope 3 emissions, which will include its supply and customer chains, it said.
The policy will “minimise, measure and report” Scope 1 and 2, which are linked directly with its operations on an absolute basis and take these into account in financial decision-making.
These will be reported in line with the Taskforce for Climate-Related Financial Disclosures annually from 2021.
It comes after the Oil and Gas Authority last month set out the need for more operators to improve reporting of emissions and other environmental social governance measures ahead of legislation in 2025.
The policy also mandates that the largest possible percentage of renewable electrical power is in the energy mix for all JOG sites, onshore and offshore.
CEO Andrew Benitz said: “I am very pleased to announce the adoption by JOG of this important Carbon Policy as part of our ongoing risk management. Through its implementation, we will be contributing to the energy transition and to global net zero ambitions.
“We understand that responsibly sourced hydrocarbons will be fundamental to a successful global energy transition ensuring vital energy supply during the period. JOG is committed to differentiating itself as a sustainable and responsible 21st century energy company. This Carbon Policy is central to the delivery of that ambition.”