India's Cairn Oil & Gas aims for net zero carbon by 2030
SUMMARY
The company has planned a comprehensive ESG strategy.
By Shardul SharmaPOSTED IN:
India’s Cairn Oil & Gas, part of the Vedanta Group, announced on June 3 its goal to achieve net zero carbon emissions by 2030 across its exploration and production (E&P) value chain.
Cairn’s focused ESG roadmap includes reducing carbon emissions, leveraging renewable energy sources, utilising nature-based carbon solutions, and adopting waste-to-energy and carbon capture utilisation and storage (CCUS) technologies. The company is involved in biodiversity conservation and nature restoration across its operational areas in Rajasthan, Andhra Pradesh, and Gujarat, with plans to plant 2mn trees by 2030.
To reduce its environmental impact, Cairn is implementing initiatives to decarbonise its operations while expanding its energy portfolio. The company aims to source up to 70 MW of renewable energy by 2030, with a renewable power delivery agreement for 25 MW set to commence in FY25. Solar rooftop installations have been completed across operational sites in Rajasthan and Gujarat, and flare gas reduction efforts have resulted in a 60% decrease in potential gas flaring intensity over the past four years.
Cairn is also conducting a feasibility study on a ‘waste to power’ project to utilise lean gas, CO2-rich gas, solid waste, and other industrial waste to generate power through pressurized oxy-combustor technology. The resulting CO2 gas can be further utilised for enhanced oil recovery.
Other initiatives include bottling and cascading gas for CNG players, gas transportation from satellite fields to terminals through pipelines, optimising recycled gas compressors, installing ejectors to reduce flaring in terminals, and employing digital twin technology for comprehensive asset management.
“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,” said Steve Moore, deputy CEO of Cairn Oil & Gas.
Cairn has interests in 62 blocks in India, covering over 60,000 km², with gross 2P and 2C reserves of 1.4bn barrels of oil equivalent (boe). The company has producing assets in Rajasthan, Andhra Pradesh, Gujarat, and Assam.
