Schlumberger Commits to Net Zero by 2050 - Smart Energy Decisions

Commercial, Energy Efficiency, GHG Emissions  -  June 24, 2021

Schlumberger Commits to Net Zero by 2050

Energy services technology company Schlumberger announced on June 22 that it is committing to reaching net-zero GHG emissions by 2050. With minimal reliance on offsets, Schlumberger’s decarbonization plan is focused on reducing Scope 1, 2 and 3 emissions across the oil and gas value chain and assisting customers and the wider industry in their decarbonization commitments.

“There is a new industry imperative to address climate change while meeting the demand for energy both today and in the long term, sustainably,” Olivier Le Peuch, chief executive officer of Schlumberger, said in a statement. ”We have a 2050 net-zero carbon emissions ambition which I believe is unique in our industry due to our capabilities as a technology company and our culture grounded in science. This reinforces our commitment to unlocking access to energy, for the benefit of all. Our net-zero target is inclusive of total Scope 3 emissions; this is a first in the energy services industry.”

Other interim targets using 2019 as a baseline year include:

  • By 2025, a 30% reduction in Scopes 1 and 2
  • By 2030, a 50% reduction in Scopes 1 and 2; 30% reduction in Scope 3
  • By 2050, Net Zero, with minimal reliance on offsets 

“Our decarbonization plans are based upon climate science and focused on three key areas: operational emissions; customer emissions; and carbon-negative actions,” Katharina Beumelburg, chief strategy and sustainability officer of Schlumberger, also said in the statement. “75% of Schlumberger’s baseline GHG footprint comes from the technologies our customers use. To address this, Schlumberger has introduced our Transition Technologies portfolio, which is designed to help customers reduce their Scope 1 and 2 emissions, while simultaneously enabling us to meet our Scope 3 emissions target.”

Schlumberger is also introducing a Transition Technologies portfolio to address fugitive emissions, flaring reduction, electrification, well construction emissions and full field development solutions. This will help to reduce direct and indirect emissions along with other environmental attributes, while simultaneously driving efficiency, reliability and performance. To quantify the impact of these technologies, Schlumberger has developed a framework that enables standardization of measurement, benchmarking through net-footprint comparisons and ultimately better-informed technology selection during planning.

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