GHG Emissions and Reductions
Throughout 2023, MedcoEnergi has implemented a series of initiatives across its oil & gas assets specifically designed to reduce greenhouse gas (GHG) emissions. These initiatives encompass a multifaceted approach, including optimizing fuel consumption and flare reduction practices, implementing gas lift conversion strategies, and fostering the adoption of renewable energy sources.
MedcoEnergi maintains a rigorous approach to managing, monitoring, and disclosing its Scope 1 and Scope 2 greenhouse gas (GHG) emissions. We are currently engaged in a process of enhancing our internal systems and processes to facilitate the future disclosure of Scope 3 GHG emissions. Our commitment extends to the establishment of interim targets for Scope 3 emissions, with the goal of disclosing assured Scope 3 GHG emissions data alongside these targets in 2025.
Scope 1 & 2
MedcoEnergi categorizes its greenhouse gas (GHG) emissions into Scope 1, and Scope 2 in accordance with the GHG Protocol. Scope 1 emissions encompass direct emissions from our oil & gas and power assets, primarily generated through the combustion and flaring of natural gas. We are actively supporting government initiatives aimed at eliminating routine flaring by 2030. Our Scope 2 emissions account for indirect GHG emissions associated with our purchased electricity.
Scope 3
MedcoEnergi recognizes the importance of comprehensively addressing its environmental footprint. Scope 3 greenhouse gas (GHG) emissions, encompassing indirect emissions that occur along our corporate value chain, represent a significant component of our overall GHG impact. These emissions fall outside the boundaries of our Scope 1 and Scope 2 emissions. We are currently undertaking a strategic initiative to enhance our internal systems and processes for the identification, management, and future disclosure of Scope 3 GHG emissions. This multi-faceted approach includes the establishment of a comprehensive inventory, the implementation of capability-building sessions for relevant personnel, and the fostering of collaborative engagement with our business partners. By 2025, MedcoEnergi aims to achieve independent assurance of its significant Scope 3 GHG emissions data and establish ambitious reduction targets.