Cairn Oil & Gas Targets Net Zero by 2030
By Rediff Money Desk, New Delhi Jun 03, 2024 20:13
Cairn Oil & Gas, part of Vedanta Group, aims to achieve net zero emissions by 2030 through renewable energy, tree planting, and other initiatives.
New Delhi, Jun 3 (PTI) Cairn Oil & Gas, part of Vedanta Group, on Monday said it has set 2030 as target date for becoming net zero through a mix of planting trees and using renewable energy across businesses.
"For achieving a low-carbon trajectory to reduce its environmental impact, Cairn is implementing diverse initiatives to decarbonise its operations while expanding its energy portfolio," a company statement said.
These include sourcing up to 70 MW of renewable energy by 2030, with a renewable power delivery agreement for 25 MW set to commence in the current fiscal.
Also, solar rooftop will be installed across operational sites in Rajasthan and Gujarat.
"Significant progress in flare gas reduction has seen a 60 per cent decrease in potential gas flaring intensity over the past four years," Cairn said adding it already is a net water positive company and is recycling more than 96 per cent of produced water through reinjection.
The company said it has undertaken a feasibility study on 'waste to power' project to utilise lean gas, C02 rich gas, solid waste and other industrial waste, to generate power through pressurized oxy combustor technology. The resulting CO2 gas can then be further utilised for enhanced oil recovery.
Other initiatives include bottling and cascading of gas for CNG players, gas transportation from satellite fields to terminal through pipeline, optimising recycled gas compressors, installation of ejector to reduced flaring in terminals and employing digital twin technology for comprehensive asset management.
"As part of a multi-pronged strategy, Cairn's focused ESG roadmap covers carbon emission reduction, leverage renewable energy sources, leveraging nature-based carbon solutions and adopting innovations such as waste to energy, carbon capture utilisation and storage (CCUS) among others. With this, Cairn has fast-tracked its vision of attaining net zero carbon by 2030," it said.
Cairn plans to plant 2 million trees by 2030.
Ravva in Andhra Pradesh has now been transformed into a vibrant wetland of mangroves spread over 86 acres. In Barmer, Rajasthan, Cairn planted 0.2 million trees across 988 acres of forest land and is reviving Khejari (Prosopis Cineraria) with 15,000 plants in the Thar Ecosystem. The overall greenbelt in Rajasthan covers 1600 acres.
Gujarat coastal areas have been transformed with 372 acres of mangrove forest.
According to Steve Moore, Deputy CEO, Cairn Oil & Gas, "Cairn, as the largest private oil and gas producer in India, is proud to lead the charge towards a greener future by making a positive impact on the environment and communities we operate in. Our decarbonisation and environmental initiatives are aligned with the vision to become carbon neutral by 2030 through innovation and technology coupled with our dedicated efforts.
"For achieving a low-carbon trajectory to reduce its environmental impact, Cairn is implementing diverse initiatives to decarbonise its operations while expanding its energy portfolio," a company statement said.
These include sourcing up to 70 MW of renewable energy by 2030, with a renewable power delivery agreement for 25 MW set to commence in the current fiscal.
Also, solar rooftop will be installed across operational sites in Rajasthan and Gujarat.
"Significant progress in flare gas reduction has seen a 60 per cent decrease in potential gas flaring intensity over the past four years," Cairn said adding it already is a net water positive company and is recycling more than 96 per cent of produced water through reinjection.
The company said it has undertaken a feasibility study on 'waste to power' project to utilise lean gas, C02 rich gas, solid waste and other industrial waste, to generate power through pressurized oxy combustor technology. The resulting CO2 gas can then be further utilised for enhanced oil recovery.
Other initiatives include bottling and cascading of gas for CNG players, gas transportation from satellite fields to terminal through pipeline, optimising recycled gas compressors, installation of ejector to reduced flaring in terminals and employing digital twin technology for comprehensive asset management.
"As part of a multi-pronged strategy, Cairn's focused ESG roadmap covers carbon emission reduction, leverage renewable energy sources, leveraging nature-based carbon solutions and adopting innovations such as waste to energy, carbon capture utilisation and storage (CCUS) among others. With this, Cairn has fast-tracked its vision of attaining net zero carbon by 2030," it said.
Cairn plans to plant 2 million trees by 2030.
Ravva in Andhra Pradesh has now been transformed into a vibrant wetland of mangroves spread over 86 acres. In Barmer, Rajasthan, Cairn planted 0.2 million trees across 988 acres of forest land and is reviving Khejari (Prosopis Cineraria) with 15,000 plants in the Thar Ecosystem. The overall greenbelt in Rajasthan covers 1600 acres.
Gujarat coastal areas have been transformed with 372 acres of mangrove forest.
According to Steve Moore, Deputy CEO, Cairn Oil & Gas, "Cairn, as the largest private oil and gas producer in India, is proud to lead the charge towards a greener future by making a positive impact on the environment and communities we operate in. Our decarbonisation and environmental initiatives are aligned with the vision to become carbon neutral by 2030 through innovation and technology coupled with our dedicated efforts.
Source: PTI
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