Schlumberger charting a path to net zero by 2050

Schlumberger recently announced its plan to achieve net zero by 2050. Can you provide some detail around this?

Back in June we announced our commitment to achieve net-zero greenhouse gas emissions by 2050. The plan, which has minimal reliance on offsets, is focused on reducing scope 1, 2 and 3 emissions—addressing the entire oil and gas value chain. 

Using 2019 as a baseline year, our plan is supported by a comprehensive near-term emission reduction roadmap and interim targets, including:

• By 2025, a 30 percent reduction in scopes 1 and 2

• By 2030, a 50 percent reduction in scopes 1 and 2; 30 percent reduction in scope 3

• By 2050, net zero, with minimal reliance on offsets.

To address our scope 1 and 2 emissions, we are addressing our own operational footprint through a combination of digital innovations, low carbon energy solutions and facility rationalisation. Additionally, as a company with a history of innovation, we have a responsibility and an opportunity to reduce industry emissions through technology solutions that help our customers decarbonise operations. These technologies, in turn, will help us meet our scope 3 emissions targets.

As a company with a history of innovation, we have a responsibility and an opportunity to reduce industry emissions through technology solutions.

How is Schlumberger planning to reduce customer emissions?

Schlumberger is one of the first energy service providers to include scope 3 emissions as part of its decarbonisation plan. We were compelled to do so given the significant opportunity to drive positive impact within our industry. The use of our technology by our customers accounts for about 75 percent of Schlumberger’s total baseline greenhouse gas footprint across scopes 1,2 and 3. To directly address customer emissions, whilst simultaneously helping us to meet our scope 3 targets, we introduced our Transition Technologies portfolio. The portfolio is comprised of solutions designed to help customers reduce emissions and energy consumption, while simultaneously driving efficiency, reliability and performance. Helping our customers reduce their emissions is integral to Schlumberger ultimately achieving its net zero commitment.

Helping our customers reduce their emissions is integral to Schlumberger ultimately achieving its net zero commitment.

How will Schlumberger’s Transition Technologies impact the oil and gas value chain?

All products in the Transition Technologies portfolio have quantified and meaningful sustainability benefits, calculated compared to an industry standard reference technology or process.  To quantify the impact and benefits, we use a bespoke framework developed internally that combines existing methodologies, including those from the GHG Protocol and the International Energy Agency (IEA), with those more specifically tailored to our operations. The framework aligns to six of the UN Sustainable Development Goals most applicable to our technologies, and is supported by specific sustainability attributes that more easily enable direct impact comparisons: emissions reduction; reduction in energy consumption; electrification of infrastructure; measurement, monitoring, and assessment; less hazardous material and cleaner chemistry; water stewardship; waste reduction; and physical size and impact reduction.

When looking across the value chain, the Transition Technologies portfolio is divided into specific themes that target a wide range of sustainability challenges and opportunities:

• Addressing methane emissions

• Reducing or eliminating flaring

• Minimising well construction CO2 footprint

• Full field development solutions

• Electrification of infrastructure