i3 Energy PLC (AIM:I3E, TSX:ITE, OTC:ITEEF) said its current emphasis is on methane reduction from its operations as it published its inaugural annual ESG report.
This focus has included replacing hi-bleed pneumatic controllers with low bleed or instrument air, replacing pneumatic pumps with solar-powered electric pumps and other fugitive emissions reduction and emissions inventory monitoring.
As a result, methane emissions fell by 34% in 2021 compared to the previous year.
The North Sea and Canada-focused oil and gas group added it is also committed to being net-zero by for Scope 1 and Scope 2 emissions by 2050 (full report is available here).
Majid Shafiq, chief executive, said: "We are very pleased to publish our inaugural ESG report.
“Having acquired a large and diverse asset base of operated well, pipeline and processing facilities in a series of transactions from a number of different operators over the course of 2020 and 2021, a considerable effort was required to acquire and consolidate emissions data for our portfolio.
“We have now established baselines for the assets acquired from Toscana Energy and Gain Energy (and will do so late this year for the assets acquired from Cenovus) from which we can measure and drive efficiency and emissions reductions initiatives on a go-forward basis.”