Rosneft and Innopraktika expand cooperation in low-carbon development

Under the Saint-Petersburg International Economic Forum, Rosneft Oil Company and ‘Innopraktika’ non-state development institute have signed an Agreement on building the maps of geologic targets in the territory of Russia, which are potentially suitable for ecologically clean CO2 storage. These will include the coal and salt beds, aquifers, magmatic rocks and depleted oil and gas reservoirs.

Specialists from the Geology Department of the MSU named after Lomonosov and experts from Russia’s leading scientific centers shall also take part in this project.

The related results of this work shall serve as the basis for implementing the solutions for greenhouse gases emissions reduction with the production and processing blocks of the Company.  

Rosneft was the first company in the Russian petroleum industry to set a goal on achieving the net zero by 2050 and has included this goal into its Rosneft-2030 strategy. This strategy formulates the short- and medium-term horizons of the climate agenda: 5% reduction of absolute greenhouse gases emissions by 2025; reduction of methane emissions to the level below 0.2% by 2030; zero associated petroleum gas routine flaring; reduction of specific emissions of greenhouse gases in ‘exploration and production’ segment to the level below 20kg of СО2/boe; reduction of absolute emissions of greenhouse gases by more than 25% by 2035.

Over the last 3 years (2020 through 2022), the Company’s ‘green’ investments, intended to increase the business’s ecological performance and minimize the environmental impact, amounted to circa 156 billion RUR.

Information and Advertising Department
Rosneft
June 14, 2023

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