Photo: Illustration; Source: Transocean

Transocean sets target for emissions reduction across its rig fleet

Offshore drilling contractor Transocean has committed to reducing operating Scope 1 and Scope 2 greenhouse gas emissions intensity by 40 per cent from 2019 levels by 2030.

According to Transocean’s statement on Monday, this critical initiative is consistent with the technical leadership the company has demonstrated over the years through the implementation of numerous innovations to improve the performance of its rigs and enhance safety, reliability, operational execution, and efficiency.

Transocean underlined it would 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 Transocean President and Chief Executive Officer, Jeremy Thigpen.

“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.”

Thigpen continued, “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.”

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

In recent company news, Transocean in August 2021 won a $252 million firm contract from BOE Exploration & Production for the newbuild ultra-deepwater drillship, the Deepwater Atlas.