New Delhi, June 3, 2024: Oil and gas exploration and production company Cairn Oil & Gas is accelerating efforts to become Net Zero Carbon by 2030, by pioneering Environmental, Social, and Corporate Governance (ESG) leadership across the E&P value chain.
As part of a multi-pronged strategy, Cairn’s focused ESG roadmap covers carbon emission reduction, leverage renewable energy sources, leveraging nature-based carbon solutions and adopting innovations such as waste to energy, carbon capture utilisation and storage (CCUS) among others. With this, Cairn has fast-tracked its vision of attaining Net Zero Carbon by 2030.
The multi-pronged long-term strategy to become Net Zero Carbon by 2030 is backed by a meticulous plan exploring new opportunities, said the company, which is part of Vedanta Group.
According to Dr Steve Moore, Deputy CEO, Cairn Oil & Gas, “Cairn, as the largest private oil and gas Producer in India, is proud to lead the charge towards a greener future by making a positive impact on the environment and communities we operate in. Our decarbonisation and environmental initiatives are aligned with the vision to become carbon neutral by 2030 through innovation and technology coupled with our dedicated efforts.”
Cairn’s biodiversity conservation initiatives and nature restoration activities are spread across its operational areas in Rajasthan, Andhra Pradesh, and Gujarat.
As part of its efforts to become Net Zero by 2030, Cairn plans to plant 2 million trees by 2030.
Under Cairn's initiatives, Ravva in Andhra Pradesh has now been transformed into a vibrant wetland of mangroves spread over 86 acres. Gujarat coastal areas have also been transformed with 372 acres of mangrove forest.
In Barmer, Rajasthan, Cairn planted 0.2 million trees across 988 acres of forest land and is reviving Khejari (Prosopis Cineraria) with 15,000 plants in the Thar ecosystem. The overall greenbelt in Rajasthan covers 1,600 acres.
For achieving a low-carbon trajectory to reduce its environmental impact, Cairn is implementing diverse initiatives to decarbonise its operations while expanding its energy portfolio.
The company has planned to source up to 70 MW of renewable energy by 2030, with a renewable Power Delivery Agreement for 25 MW set to commence in FY25. It has installed solar rooftop across Rajasthan and Gujarat operational sites. The company has seen a significant progress in flare gas reduction with 60 per cent decrease in potential gas flaring intensity over the past four years.
Cairn is already a Net Water Positive company with an NPWI of 1.12. The company is recycling more than 96% of produced water through reinjection.
The company has undertaken a feasibility study on ‘Waste to Power’ project to utilise lean gas, C02 rich gas, solid waste and other industrial waste, to generate power through pressurized oxy combustor technology. The resulting CO2 gas can then be further utilised for enhanced oil recovery.
Other initiatives include bottling and cascading of gas for CNG players, gas transportation from satellite fields to terminal through pipeline, optimising recycled gas compressors, installation of ejector to reduced flaring in terminals and employing digital twin technology for comprehensive asset management.
The company said it is committed to enhance its operational performance in synergy with climate change mitigation and further plans to minimise emissions through process optimisation, improved reliability, and low carbon technologies.
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