International Finance
Energy

Petrofac to reduce its direct and indirect emissions to net zero by 2030

Petrofac net emission_IFM_Image
According to its CEO, its Our Net Zero target supports the principles of the Paris Agreement

Offshore energy services provider Petrofac has announced that it will aim to reduce its direct and indirect emissions to net zero by the end of 2030, the media reported.

Petrofac Group chief executive officer Ayman Asfari told the media, “Our Net Zero target supports the principles of the Paris Agreement, the UK government’s Net Zero goal, and is aligned with our clients’ own ambitions as the sector moves to a net zero future. Our gender diversity target will help develop more women leaders for Petrofac and our industry, and builds on our work of increasing female representation at both Board and junior levels.”

“Sustainability is at the core of our strategy, underpinning best-in-class delivery, future growth and enhanced returns. It allows us to help clients decarbonise their activities as well as our own; promote safe, local delivery and ethical value chains underpinned by rigorous compliance and governance; and build a diverse workforce that helps address the sector’s skills gap,” he added.

The company further revealed that it is setting interim targets of 10 percent of women in senior roles by 2021 and 20 percent of women in senior roles by 2025.

Earlier this week, a joint venture between Petrofac  and SOCAR (State Oil Company of the Republic of Azerbaijan) have secured a services contract with BP Azerbaijan.

The contract is estimated to be worth $100 million. According to the deal, the JV will provide BP Azerbaijan with international payroll and personnel support services, including training services.

Petrofac also posted a net loss of $78 million in its first half year results for 2020.

It reported a 28 percent reduction in revenue down to $1.6 billion as a result of the coronavirus pandemic.

Leave a Comment

* By using this form you agree with the storage and handling of your data by this website.