Pioneer Natural Resources, Devon Energy and ConocoPhillips announced in a joint statement that they have joined the Oil and Gas Methane Partnership (OGMP) 2.0 Initiative. The initiative is a voluntary, public-private partnership between the United Nations Environment Program, the European Commission, the Environmental Defense Fund and more than 80 oil and gas companies, aimed at minimizing methane emissions from global oil and gas operations. Its work has helped to raise awareness of methane emissions and contributed to the growing priority of mitigation activities.
The initiative’s reporting framework will provide stakeholders with the assurance that methane emissions are managed responsibly. In turn, participating companies will be provided with the means to credibly demonstrate that they are contributing to climate mitigation and delivering against their methane improvement objectives and targets. Joining the partnership also represents a commitment on the part of member companies to encourage improved methane reduction performance in reporting and methane emission reduction through transparency, flexibility and best practice sharing.
“Reducing greenhouse gas emissions, including methane, is an important priority for ConocoPhillips, and we are pleased to join industry members and stakeholders to advance this important area of emissions management,” said Ryan Lance, ConocoPhillips Chairman and CEO. “We believe that applying the rigorous OGMP 2.0 reporting standard across our global assets will be a vital step on our path to net-zero operational emissions by mid-century.”
“Deployment of advanced methane detection technology and enhanced transparency are key components to Devon’s broader emission reduction strategy, including our aim to achieve net zero GHG emissions for Scopes 1 and 2 by 2050,” said Rick Muncrief, President and CEO of Devon Energy. “We believe that collaboration and collective efforts are needed to advance meaningful change at a fast pace, and are excited to be joining OGMP 2.0 with our industry peers that share Devon’s intention of delivering energy to the world while reducing our impact on the environment.”
“Given that we operate in one of the largest oil producing basins in the world, enabling the reduction of methane emissions by utilizing accurate and transparent reporting is imperative for Pioneer as well as other large producers in the Permian Basin,” said Scott Sheffield, Pioneer CEO. “We are excited to join OGMP 2.0 and collaborate with the United Nations Environment Program, along with industry members and other stakeholders, on this important initiative to reduce methane emissions.”