Harbour Energy Commits to End Routine Flaring

Harbour Energy plc (LSE: HBR) has announced that it has become a signatory to the World Bank’s ‘Zero Routine Flaring by 2030’ initiative.

The initiative brings together governments, oil companies, and development institutions who agree to cooperate to eliminate routine flaring no later than 2030, the World Bank notes on its website. Other oil companies involved in the initiative include BP, Chevron, ConocoPhillips, Eni, Equinor, Saudi Aramco, Shell, and Total.

In a statement posted on its site, Harbour Energy highlighted that it is taking “significant steps” within its operations to reduce emissions and achieve its commitment to be Net Zero for Scope 1 and 2 emissions by 2035. To reach this target, the company outlined that it is deploying a range of decarbonizing initiatives, including upgrades to gas turbines, reducing fuel and power consumption, exploring options for low or zero carbon energy to power platforms, and participating in multiple initiatives to explore opportunities for CO2 capture and storage.

Harbour Energy confirmed that it will continue to report emissions, including a breakdown of flaring, on an annual basis.

“At Harbour Energy our purpose is to play a significant role in meeting the world’s energy needs through the safe and efficient production of hydrocarbons, while creating value for our shareholders,” Linda Z. Cook, the chief executive officer of Harbour Energy, said in a company statement.

“By endorsing this important initiative, we are reinforcing our commitment to responsible operations as we target Net Zero emissions by 2035,” Cook went on to say.

Harbour Energy plc was created in 2021, through a reverse takeover, when Chrysaor merged with Premier Oil. It is now the largest UK listed independent oil and gas company, with 1,500 employees worldwide and more than 200,000 barrels of oil equivalent per day in production, according to its website.

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