The North Sea oil and gas industry made further progress on its transition to net-zero by cutting production emissions 4 per cent last year, contributing to an overall reduction of 28 per cent between 2018 and 2023.

The North Sea industry has committed to reaching net-zero by 2050, and a 90 per cent emissions reduction by 2040, while also agreeing interim targets with government, including a halving of emissions by 2030. The latest Emissions Monitoring Report from the North Sea Transition Authority (NSTA) shows that progress has been made and the 2030 target is now within reach.

On the other hand, even as overall emissions have gone down, emissions intensity – greenhouse gases emitted for every barrel produced – is projected to have increased, as production has also fallen.

Hedvig Ljungerud, the NSTA’s director of strategy, said: “Cutting greenhouse gas emissions by more than a quarter in five years is an impressive achievement in the North Sea, where operators have taken real action and made substantial investments. However, for domestic production to be justified, it must continue to become cleaner.”

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