OGA Strategy: requires net zero throughout the lifecycle
Stewardship Expectation 11 Net Zero: GHG emissions reductions throughout oil and gas lifecycle
INITIAL TERM
Licensing and climate
Licence applications assess GHG emissions and opportunities to collaborate
Corporate Governance
Emissions reporting standards and ESG agreed
SECOND TERM
Carbon economics
Societal cost of CHG emissions used in economic analysis
New Field Approcals
Net zero assessment and performacne against bain targets during Concept Select and Field Development Plan approval
THIRD TERM (PRODUCTION)
Stewardship
Laser focus on emissions reductions and performance improvenment
Tough Approach
Flaring and venting guidance and consents
Holistic view
Regional development and area plans
DECOMMISSIONING
Spatial planning
identifying energy transition resevoir and infrastructure re-use
Energy integration
Opportunities Efficiency to combine and with transition repurposing projects such as CCS, infrastructure hydrogen and electrification
Decommissioning
Efficiency and repurposing
Carbon storage
Stewarding projects through to licensing