Chevron New Ventures and the Egyptian Ministry of Petroleum and Mineral Resources (MOPMR) have signed a memorandum of understanding (MoU) to share best practices and expertise related to the reduction of methane emissions.<\/p>\n\n\n\n
The MoU, witnessed by Clay Neff, president of Chevron International Exploration and Production and H.E. the Egyptian Minister of Petroleum and Mineral Resources, Tarek El Molla, builds on the Sharm El Sheikh Oil & Gas Methane Reduction Roadmap that was announced by El Molla during Decarbonization Day at COP 27 in November 2022. It is aligned with Egypt\u2019s membership in the oil and gas track of the Global Methane Pledge.<\/p>\n\n\n\n
\u201cDecarbonization is a core element of the Egyptian Ministry of Petroleum and Mineral Resources\u2019 strategy. Due to its significant global warming potential, reducing methane emissions is key to supporting positive climate action, \u201csaid H.E. Eng. Tarek El Molla.<\/p>\n\n\n\n
\u201cTherefore, we are prioritizing the reduction of methane emissions from Egypt\u2019s oil and gas sector, in line with Egypt\u2019s membership in the Global Methane Pledge. Building on the success of COP27 Decarbonization Day, we will collaborate with our strategic partners like Chevron to further drive emissions reduction and reduce the carbon footprint of our hydrocarbon resources,\u201d the Minister added.<\/p>\n\n\n\n
The MoU includes methane and decarbonization study tours and workshops for MOPMR employees at Chevron facilities in the US and other locations, to build awareness of methane control technologies, measurement practices and projects to effectively reduce carbon emissions.<\/p>\n\n\n\n
\u201cChevron believes that reducing the carbon intensity of our industry is an important step to address climate change and collaboration is imperative. Since last year we have been working with the Egyptian Ministry of Petroleum and Mineral Resources on an agreement related to developing and strengthening best practices on methane abatement,\u201d said Neff.<\/p>\n\n\n\n
\u201cTogether we recognize the importance of programs which will support Ministry employees to expand the necessary skills and knowledge to advance a methane management and ultimately a carbon reduction strategy in Egypt\u2019s energy sector.\u201d<\/p>\n\n\n\n
Chevron\u2019s ambition is to be a global leader in methane emissions performance, and the company is taking action to meet that aim. Chevron\u2019s upstream methane intensity has been reduced by 50% since 2016.<\/p>\n\n\n\n
Chevron\u2019s history in Egypt dates to 1937 and today, it is present in all sectors of the value chain; upstream, midstream and downstream.<\/p>\n","protected":false},"excerpt":{"rendered":"