(APA Corp., 14.Nov.2022) — APA Corporation (Nasdaq: APA) today announced the achievement of a compensation-linked environmental, social and governance (ESG) goal to reduce upstream routine flaring across Egypt operations by 40%. The goal was reached ahead of schedule and is the result of numerous emissions reduction projects executed in Egypt throughout 2022.
“Our approach to ESG is consistent and intentionally challenging, focusing on near-term actions that drive immediate, high-impact results,” said John J. Christmann IV, APA’s CEO and president. “Oil and gas will play a critical role in the global energy mix for decades to come, and we will continue to minimize our environmental impact while meeting rising energy demand. We are confident in the impact of the steps we are taking to reduce our emissions across operating areas.”
To support the achievement of the 40% flare reduction goal, technical teams in Egypt identified a series of emissions reduction initiatives. The projects included the installation of new compressors to move gas from flaring to sales and implementing flare-to-power generation processes that move previously flared gas to power generation which eliminated the need for diesel-based power generation.
“Our dedicated team on the ground relied on their expertise to identify pragmatic solutions to reduce flaring enabling us to help provide energy security for Egyptians by compressing natural gas into sales lines delivering cleaner-burning, affordable energy,” said David Chi, Apache Egypt assets vice president and country manager. “We are pleased to see these efforts come to fruition and look forward to responsibly supporting Egypt’s emergence as a regional energy hub.”
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