The upstream oil and gas sector in Oman is evaluating ambitious strategy with a target of achieving zero emissions by 2050 with a commitment to achieve Zero Routine Flaring by 2030. The strategy's major components include a substantial investment in renewable and alternative energy sources to achieve the goals.
“As part of this commitment, Oman's upstream oil and gas industry is developing economically viable solutions to phase out routine flaring as quickly as possible and ahead of the World Bank's target date”, points out the Second Nationally Determined Contribution (NDC).
According to the report, oil and gas upstream operators in Oman are increasingly determined to play their part in mitigating climate change to the degree required and to join the national efforts to achieve more ambitious carbon cuts in a world that demands a cleaner energy future.
The NDC is rooted in the Oman vision 2040 and the National Energy Strategy to support a gradual transition to a low carbon economy and an energy matrix significantly lower in carbon emissions.
Oman's upstream oil and gas industry has set an ambitious aim to reduce the carbon intensity of operations through improving the efficiency in the existing facilities, reducing gas flaring, innovation, implement renewable energy projects designed to meet the challenge to mitigate climate change.
The envisaged carbon reduction plan from Oman's oil and gas upstream industry focus on many areas including shifting to renewable energy as a power source, significantly reduce gas flaring, improving the efficiency in the existing facilities, reducing methane and fugitive emissions and electrifying equipment.
The oil and gas industry has already signed up to the World Bank's Zero Flaring Initiative which is urging governments, businesses, and development organizations to work cooperatively to end continuous flaring by 2030.
“As part of this commitment, Oman's upstream oil and gas industry is developing economically viable solutions to phase out routine flaring as quickly as possible and ahead of the World Bank's target date gas flaring, which constitutes a large share of Oman’s emissions, is referenced, as is the development of new legislation to support mitigation”, the report points..
NDC report affirms the Sultanate’s commitment to reduce greenhouse emissions by 7 per cent by 2030 relative to business as usual. While 4 per cent of this commitment will be based on national efforts, and the remaining 3 per cent would necessitate grants and other forms of concessional financing and assistance as well as capacity building, institutional strengthening and access to appropriate technologies.
“As part of this commitment, Oman's upstream oil and gas industry is developing economically viable solutions to phase out routine flaring as quickly as possible and ahead of the World Bank's target date”, points out the Second Nationally Determined Contribution (NDC).
According to the report, oil and gas upstream operators in Oman are increasingly determined to play their part in mitigating climate change to the degree required and to join the national efforts to achieve more ambitious carbon cuts in a world that demands a cleaner energy future.
The NDC is rooted in the Oman vision 2040 and the National Energy Strategy to support a gradual transition to a low carbon economy and an energy matrix significantly lower in carbon emissions.
Oman's upstream oil and gas industry has set an ambitious aim to reduce the carbon intensity of operations through improving the efficiency in the existing facilities, reducing gas flaring, innovation, implement renewable energy projects designed to meet the challenge to mitigate climate change.
The envisaged carbon reduction plan from Oman's oil and gas upstream industry focus on many areas including shifting to renewable energy as a power source, significantly reduce gas flaring, improving the efficiency in the existing facilities, reducing methane and fugitive emissions and electrifying equipment.
The oil and gas industry has already signed up to the World Bank's Zero Flaring Initiative which is urging governments, businesses, and development organizations to work cooperatively to end continuous flaring by 2030.
“As part of this commitment, Oman's upstream oil and gas industry is developing economically viable solutions to phase out routine flaring as quickly as possible and ahead of the World Bank's target date gas flaring, which constitutes a large share of Oman’s emissions, is referenced, as is the development of new legislation to support mitigation”, the report points..
NDC report affirms the Sultanate’s commitment to reduce greenhouse emissions by 7 per cent by 2030 relative to business as usual. While 4 per cent of this commitment will be based on national efforts, and the remaining 3 per cent would necessitate grants and other forms of concessional financing and assistance as well as capacity building, institutional strengthening and access to appropriate technologies.
Source Link: www.omanobserver.om
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