Transocean sets 40% reduction target for greenhouse gas emissions intensity by 2030

Transocean has committed to reducing operating Scope 1 and Scope 2 greenhouse gas emissions intensity by 40% from 2019 levels by 2030.

The company said in a statement that the initiative “is consistent with the technical leadership that Transocean has demonstrated over the years.” The company has implemented numerous innovations to improve the performance of its rigs, and enhance safety, reliability, operational execution and efficiency. Transocean said it will achieve the reduced emissions intensity target without diminishing its record of safety and operational integrity.

“Globally, almost one billion people lack access to electricity, and all of us desire reliable and affordable sources of energy that help improve our daily lives. As such, we believe that demand for hydrocarbons and, therefore, for Transocean’s assets and services, will remain strong,” said Jeremy Thigpen, Transocean President and CEO. “Our responsibility as the industry leader extends beyond providing superior results for our customers. We must continue to deliver our services in a manner that minimizes our impact to the environment and, in this context, supports the interests of all our stakeholders, including employees, customers, investors, and for the broader public good.”

Transocean is also committed to utilizing its assets and expertise in support of its customers’ lower-carbon energy projects including, potentially, carbon capture and sequestration.

“Currently, nearly all energy used to power Transocean’s global fleet of high-capability drilling rigs is generated through the conversion of diesel fuel to electricity. Therefore, we commit to reduce emissions across our fleet through fuel reductions and other initiatives that can be achieved by developing and implementing new processes and technologies that enable us to optimize our power management capabilities,” Mr Thigpen said.