Daily CSR
Daily CSR

Daily CSR
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Chevron New Ventures signs MOU with Egypt on Best Practices to Manage Methane


Chevron New Ventures PTE. LTD. and Egypt's Ministry of Petroleum and Mineral Resources (MOPMR) have signed a memorandum of understanding (MoU) to share best practices and expertise on methane emissions reduction.

The agreement, witnessed by Clay Neff, president of Chevron International Exploration and Production, and Tarek El Molla, Egyptian Minister of Petroleum and Mineral Resources, builds on the Sharm El Sheikh Oil and Gas Methane Reduction Roadmap, which El Molla announced during Decarbonization Day at COP 27 in November 2022. It is consistent with Egypt's participation in the Global Methane Pledge's oil and gas track.

“Decarbonization is a core element of the Egyptian Ministry of Petroleum and Mineral Resources’ strategy. Due to its significant global warming potential, reducing methane emissions is key to supporting positive climate action, “said H.E. Eng. Tarek El Molla.

“Therefore, we are prioritizing the reduction of methane emissions from Egypt’s oil and gas sector, in line with Egypt’s membership in the Global Methane Pledge. Building on the success of COP27 Decarbonization Day, we will collaborate with our strategic partners like Chevron to further drive emissions reduction and reduce the carbon footprint of our hydrocarbon resources,” the Minister added.

The Memorandum of Understanding includes methane and decarbonization study tours and workshops for MOPMR employees at Chevron facilities in the United States and elsewhere to raise awareness of methane control technologies, measurement practices, and projects to effectively reduce carbon emissions.

“Chevron believes that reducing the carbon intensity of our industry is an important step to address climate change and collaboration is imperative. Since last year we have been working with the Egyptian Ministry of Petroleum and Mineral Resources on an agreement related to developing and strengthening best practices on methane abatement, said Neff.

“Together we recognize the importance of programs which will support Ministry employees to expand the necessary skills and knowledge to advance a methane management and ultimately a carbon reduction strategy in Egypt’s energy sector.”

Chevron aspires to be a global leader in methane emissions performance, and it is taking steps to achieve that goal. Since 2016, Chevron's upstream methane intensity has been reduced by 50%.

Chevron's presence in Egypt dates back to 1937, and it is now present in all sectors of the value chain, including upstream, midstream, and downstream.