Environment
GHG Emissions
Buru Energy recognises the significant challenge posed by anthropogenic climate change and the need to transition to a low carbon environment while meeting growing global demands for safe, reliable, and affordable energy.
Buru Energy is taking an active role in the transition to a lower carbon future and towards our aspiration to reach net zero scope 1 and 2 emissions by 2050
2022 Highlights:
- Fugitive emissions program drafted
- Scope 3 methodology developed
Emissions from Buru’s activities in 2022 relate primarily to the production of oil from the Ungani Field (Table 4 and Table 5). The main sources of emissions from the Ungani Field are the cold vent line and Volatile Organic Compounds (VOCs) from the field storage tanks. In 2022, the Company investigated opportunities to further reduce emissions from these sources in accordance with its Carbon Management Policy. These opportunities were evaluated against a range of criteria, including reduction potential (in tCO2e) and cost to implement and the outcomes of this process were recorded. At this stage, none of the options are considered suitable to implement, as costs associated with the existing opportunities do not deliver high enough reductions to be considered cost effective. Additionally, emissions are expected to decline as the production rate declines. This evaluation process will likely be repeated in the future, to capture any changes in technologies and costs that may occur. A fugitive emissions method was drafted with the intention of conducting a trial field survey in 2023 to further investigate options to reduce emissions.
Overall, in 2022 direct (Scope 1) emissions have reduced from 2021. Production related emissions have decreased due to the natural decline in the production rate of the field and periods of interruption due to wet season rains and well maintenance. Emissions from exploration activities reduced in 2022 as no seismic activities were undertaken. The upstream emissions intensity increased in 2022 due to the decrease in crude production. In 2023 we expect Scope 1 emissions to further reduce in line with the natural decline in the production rate of the field. The Company currently report three categories of value chain emissions. In 2022 the Company drafted a Scope 3 method for calculating all relevant categories with the intention of trialling a full Scope 3 inventory calculation in 2023.