As an upstream producer of oil and gas with employees operating in hazardous environments offshore, safety is a core element of our ESG framework, alongside our commitment to environmental, social and governance standards.
Protecting the environment and supporting the energy transition are central to the sustainable success of Harbour. We take our environmental responsibilities very seriously and are supporting the Paris climate change goals through our Net Zero 2035 initiative.
We are committed to proactively addressing our environmental impact and delivering our net zero goals, including reducing our emissions by 50 per cent by 2030 (versus a 2018 baseline) and achieving Net Zero by 2035. In 2023, our gross operated emissions reduced to 1.3 million tonnes, representing a c.30 per cent reduction compared to 2018 while our GHG intensity increased to 22.5 kgCO2e/boe (2022: 21 kgCO2e/boe) due to lower production. Post year end in January 2024, we signed the United Nations Environment Programme Oil and Gas Methane Partnership 2.0 memorandum of understanding. We also continue to reinforce a strong safety culture across our organisation. 2023 saw an improved safety record, with reduced TRIR, zero LTIR and zero serious (Tier 1 and 2) process safety events.
We are committed to playing our role in the transition to a lower carbon economy whilst minimising the environmental impact of our global operations. Our ambition is to achieve net zero by 2035 for our gross operated Scope 1 and 2 CO2 emissions.
We will deliver our net zero goal through the implementation of our net zero strategic pillars. The pillars prioritise reducing our emissions by improving operational efficiency and also safely and responsibly decommissioning assets as they reach the end of their commercial life. In order to offset our difficult-to-abate Scope 1 and 2 emissions, we will invest in independently verified carbon offsets.
Our net zero strategic pillars:
- measure
- reduce
- offset
- incentivise and invest
In 2023, we spent $311 million across our energy transition activities which we consider to include the cost of properly decommissioning oil and gas infrastructure as it reaches the end of its useful life; this compares to $292 million in 2022. This 2023 expenditure includes $255 million for decommissioning; the balance of $56 million was split between $39 million on our CCS projects. $11 million on emissions reduction projects and $6 million for the acquisition of carbon offsets.