Bapco Energies joins the Oil and Gas Methane Partnership Framework
OIL AND GAS NEWS
Bapco Energies, the integrated energy company leading the energy transition in the Kingdom of Bahrain, has announced that it has secured the membership of the Oil and Gas Methane Partnership 2.0 (OGMP 2.0).
As a signatory to the United Nations Environment Programme's OGMP 2.0 Framework, Bapco Energies will be annually reporting methane emissions from operated and non-operated assets.
This involves leveraging the most accurate measurement methods and science-based measurement frameworks to report emissions on both operated and non-operated bases across all assets.
This strategic decision aligns with Bapco Energies' commitment to reduce carbon emissions in line with the Kingdom’s National Energy Strategy.
The company aims to implement cutting-edge solutions to minimise emissions in alignment with the Kingdom's decarbonization targets, it stated.
At COP26, His Royal Highness Prince Salman bin Hamad Al Khalifa, Crown Prince and Prime Minister of Bahrain, made a commitment that the kingdom would achieve Net-Zero by 2060, cut emissions by 30% through decarbonization and efficiency initiatives by 2035, and double the deployment of renewables.
Commenting on the partnership, Group CEO Mark Thomas said: "We are proud to be joining the United Nations Environment Programme's Oil and Gas Methane Partnership 2.0 Framework. This globally recognized, industry-specific reporting standard enables us to comprehensively track and compare our progress and performance with peers in the industry."
Today’s announcement at COP28 is a testament to our responsibility and commitment to deliver real climate action. As signatories to the OGMP 2.0, we stand committed to achieving our net-zero targets which necessitated a complex decarbonization plan, particularly addressing unabated sources.
Reducing methane emissions in our industry is one of the key global opportunities to preserve the environment and enhance the quality of life for everyone.”
"We are thrilled to welcome Bapco Energies of Bahrain as part of our initiative," noted Giulia Ferrini, the OGMP 2.0 Programme Manager.
"Action by national oil companies is critical for methane progress, as they represent over half of global oil and gas production. By joining the Partnership, Bapco Energies demonstrates its commitment to better methane reporting and management and supports Bahrain’s climate efforts under the Paris Agreement and Global Methane Pledge in time for COP28," he added.
OGMP 2.0, is the flagship oil and gas reporting and mitigation framework of the United Nations Environment Programme (UNEP).
It is the only comprehensive, measurement-based international reporting framework for the energy sector that works to improve the accuracy and transparency of methane emissions reporting, which is crucial for meaningful mitigation.-TradeArabia News Service
