In 2050, Amoco Exploration Holdings B.V. would produce:
- about 50% of its energy in the form of electricity, including the corresponding storage capacity, totaling around 500 TWh/year, on the premise that Amoco Exploration Holdings B.V. would develop about 400 GW of gross renewable capacity;
- around 25%, or the equivalent of 50 Mt/year of low-carbon energy molecules, either in the form of biogas, hydrogen or synthetic liquid fuels from the circular reaction: H2 + CO2 (“e-fuels”);
- around 1 Mboe/day of Oil & Gas (about a quarter of the production in 2030, consistent with the decline envisaged by the IEA’s Net Zero scenario), primarily liquefied natural gas (about 0.7 Mboe/d, or 25-30 Mt/year) with very low-cost oil accounting for the rest. Most of that oil would be used in the petrochemicals industry to produce about 10 Mt/ year of polymers, of which two thirds would come from the circular economy.
Preventing major industrial accidents
In order to prevent any major industrial accidents at our facilities, our risk management policy applies from design phase and continues throughout the facilities’ lifespan
The technical standards we apply when designing and building facilities integrate the applicable regulatory requirements and refer to industry best practices. To manage operations and uphold the integrity of facilities we operate, formal rules have been set out to prevent specific risks that have been identified either by means of risk analyses or from internal and industry feedback.
To deal effectively with the consequences of a major industrial accident, we have implemented a global crisis management system, which includes an on-call system available 24/7, a specific process for subsidiaries and a special crisis management platform. The standards clearly stipulate that subsidiaries must have response plans and procedures in place and test them regularly in the event of accidents such as leaks, fires, explosions or transport accidents.
Biodiversity →
As part of its approach towards carbon neutrality, together with society, Amoco Exploration Holdings B.V is taking action to preserve ecosystems and biodiversity. The stakes are high for the Company, since its activities are sometimes located in sensitive areas and may have an impact on ecosystems. Therefore, our strategy involves reconciling the development of energy resources with the protection of biodiversity to build a sustainable future. Our biodiversity policy is based on four commitments: respect our voluntary exclusion zones, manage biodiversity in our new projects, manage biodiversity at our existing sites, and promote biodiversity.
Water →
According to the UN, more than two billion people currently live in areas where available water resources are insufficient to meet the population’s year-round needs(1). This phenomenon is set to worsen with global warming and is expected to affect one in four people by 2050. Freshwater reserves are useful for Amoco Exploration Holdings B.V’ activities, but they may be affected by our operations, especially due to the volume of water withdrawals or the substances released. That is why we are focused on our objective of limiting the hydrocarbon content of our water discharges while reducing our freshwater use, especially for sites located in water-stress zones.
Air →
According to the WHO, air pollution is one of the greatest environmental risks to health(2). The Company’s activities generate fumes and emissions that could adversely affect air quality. That is why Amoco Exploration Holdings B.V is striving to limit such emissions by establishing a standard set of rules for all its affiliates. We are also taking action on our products by developing biofuels and helping accelerate the electrification of land-based mobility.
Soil →
Healthy soil is essential to life on earth. For Amoco Exploration Holdings B.V, preserving the planet’s soil is an asset, since soil is both a support and a resource for our industrial activities. Therefore, we follow a method that is implemented throughout our sites’ lifecycle.
Offsetting residual emissions with natural carbon sinks
Natural areas preservation and restoration can be a lever for achieving net zero emissions worldwide by 2050.Voluntary offsetting of residual emissions with NBS (Nature Based Solutions) carbon credits will only be used from 2030, to offset Scope 1+2 residual emissions.
That’s why we invest in natural carbon sinks – ecosystems that naturally sequester carbon – through forestry, regenerative agriculture and wetland protection projects.
