ExxonMobil announced on Monday that it aims to achieve net zero greenhouse gas emissions by 2030 from its oil and gas operations in West Texas and New Mexico.
The announcement is part of Exxon's previously declared goals to cut greenhouse gas emissions across its company.
ExxonMobil's plans for the Permian Basin are also aligned with the US and EU-led Global Methane Pledge to reduce methane emissions by 30% by 2030.
The US oil giant vowed to achieve net zero emissions in the Permian Basin by electrifying its operations, expanding investments to detect and capture methane gas, eliminating the routine burning of waste gas emitted from oil wells, upgrading equipment and employing emissions offset technology, which may include nature-based solutions.
Electrifying operations with low-carbon power, which may include wind, solar, hydrogen, natural gas with carbon capture and storage, or other emerging technologies, is also part of ExxonMobil’s net zero efforts.
ExxonMobil said it expects to cut flaring volumes across its Permian Basin operations by more than 75% by the end of 2021, compared to 2019. In support of the World Bank's Zero Routine Flaring effort, the company pledged to cease all routine flaring in the Permian by the end of 2022.
By Sibel Morrow