Dril-Quip maps out decarbonization plan
U.S. manufacturer of drilling and production equipment Dril-Quip has set its decarbonization targets, aiming to reduce its combined Scope 1 and Scope 2 emissions by more than 50% by 2030.
Dril-Quip’s decarbonization actions include switching to renewable electricity at certain manufacturing sites, rightsizing facilities, investing in infrastructure to reduce emissions, reducing its vehicle fleet and evaluating electrification opportunities.
The Houston-based company said it is not only committed to driving environmental stewardship throughout its organization but also through the broader energy industry.
Over about 75% of Dril-Quip’s Scope 3 emissions is said to be attributable to machinery, products and services purchased by Dril-Quip and the use of its equipment leased by customers, because of which the company is working with suppliers and customers to find avenues to decarbonize their operations further and help them set their targets aligned with the 1.5°C global warming pathway to reduce emissions across the entire value chain.
Furthermore, Dril-Quip added that it is engaging with key suppliers to reduce upstream emissions in sourcing activity to help them reduce their carbon footprint and commit to long-term GHG emission targets.
The company is also partnering with customers to develop engineered solutions to reduce emissions during product fitting and installation by aligning their solutions with their long-term decarbonization goals.
“We are proud to take these additional steps on our ESG journey, particularly establishing decarbonization targets to align with a 1.5°C global warming pathway,” said Jeff Bird, Dril-Quip’s CEO.
“Additionally, Dril-Quip continues investing in technologies and services that reduce carbon and environmental impact through both internal R&D efforts and collaborations. This is evidenced by our innovative e-Series products that help our customers reduce their carbon footprint, and our recently announced collaboration with Aker Solutions to provide an optimal carbon capture, utilization and storage solution for customers.”
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