Dubai: Today, Dragon Oil Company signed the “Oil and Gas Decarbonization Charter” agreement during the activities of the COP 28 Conference. The signing of the agreement represents DO’s commitment to achieving sustainable development goals and reducing carbon emissions in the atmosphere through decarbonization of the oil and gas industry.
His Excellency Ali Rashid Al Jarwan, CEO of Dragon Oil, said: “Dragon Oil is proud to sign the Oil and Gas Decarbonization Charter agreement during the United Nations Climate Change Conference, which is being held in the United Arab Emirates. The signing of the agreement indicates that the oil industry, and our company in particular, is moving towards new horizons for sustainable development.”
Al Jarwan added: “This step represents a clear testimony that Dragon Oil realizes the importance of increasing measures to support the world’s movement towards a future free of greenhouse gas emissions,” adding that, “our company is one of the first companies in the world to produce a policy to stop burning gas in its fields, as it scheduled to stop burning of associated gas permanently in Egypt and Iraq during the year 2025, while in Turkmenistan, Dragon Oil will stop burning gas completely by 2027.”
Al Jarwan explained that DO, to support achieving this goal, the Company’s efforts will continue to be action-oriented to help accelerate the energy transition and will invest in future energy systems and other technologies, including negative emissions technologies to contribute to achieving climate neutrality by 2050.
AlJarwan expressed the Company's pride in this wonderful achievement and its endeavor to achieve the aspirations of the charter, through focused partnerships with key enabling sectors, including technology and service providers, in addition to the financial services sector.
AlJarwan pointed out that the agreement is in line with the five initiatives launched by the company during the COP 28 activities, which focus on reducing emissions, using solar energy in production fields, protecting the marine environment, preserving coral reefs, maintaining marine platforms, and others.
Al Jarwan pointed out that the Company is working on clean alternatives through innovation, such as blue hydrogen, solar energy, stopping gas burning, and other alternatives that support the goal of removing carbon from the oil industry.
Al Jarwan stressed that COP28 is the ideal platform to achieve climate neutrality in light of the qualitative and numerical participation of countries of the world, financial, energy and environmental institutions and everyone related to climate change.