URALSK, West Kazakhstan Oblast, 22 September 2021 -Tackling climate change is the biggest challenge the world faces today. A number of countries and companies have already pledged to achieve carbon neutrality by 2050. Kazakhstan also takes active steps towards achieving carbon neutrality by 2060. The recently released new Environmental Code also aims to stimulate decarbonisation of the economy and green growth.
In turn, KPO is fully committed to carbon neutrality and understands the need to take proactive steps to address the climate change challenge. Recently KPO-365 internal working group was initiated - working 365 days to ensure KPO remains profitable, sustainable and relevant to all stakeholders 2037+. The working group identified three key objectives:
- Diversify and improve revenue;
- Manage our cost base;
- Transition to a “Green KPO”
On 22nd of September 2021 KPO held a "Green KPO Transition" workshop with participation of the Parent Companies Eni SpA, Shell, Chevron Corporation, LUKOIL and KazMunaiGas. The purpose of the workshop was to share and understand the expectations of each Parent Company, share experience and agree the decarbonisation vision for Karachaganak Field with the key stakeholders, while ensuring stable or improving revenues. The workshop was held in a hybrid format - online and at the Chevron Corporation office in Almaty. A total of around 50 people took part in the workshop.
In their welcoming speech, KPO General Director Giancarlo Ruiu and Operations Director Adam Lowmass said: “We need, and we want, to act responsibly and efficiently to the changes in the business environment and we need to seek all opportunities to ensure that we safeguard our long-term Company business and remain an energy provider of first choice, thus continuing to provide and protect jobs for many people now and in the future. We also have the aspiration to transform KPO into the world’s first large scale, economic and sustainable hydrocarbon and energy producer and achieves net Zero Source 1 and Source 2 Green House Gas emission. This is an important but very challenging transition, which will take some time to develop and will require substantial stakeholder engagement and support at all levels within the Republic of Kazakhstan and KPO shareholders”.
During the workshop, experts from the partner companies shared their practical experience in implementing low-carbon development strategies, greenhouse gas reduction projects, energy efficiency and renewable energy sources, as well as carbon capture and storage projects Quest in Canada and Gorgon in Australia, including regulatory practice.
For its part, KPO presented its vision for the transition to carbon neutrality, GHG abatement including waste heat recovery, carbon capture and storage, renewable energy supplies, potential commercial opportunities and potential impact of changing carbon regulation on the Company’s operations.
The workshop resulted in the adoption of written decarbonisation vision statement, as well as a timeline and description of the conceptual actions for the next 12 months.
In a green transition KPO will change and adapt, so that it can maintain the leading role in provide jobs and benefits to individuals, the local community, shareholders and the Republic of Kazakhstan.
KPO Corporate Affairs Department
