The Oil and Gas Authority (OGA) has published its inaugural Emissions Monitoring Report, which shows the UK upstream oil and gas industry must go much further and faster in its drive to cut emissions.

This new annual report is part of the OGA’s efforts to monitor, benchmark and hold the industry to account on emissions, in support of the UK’s target of reaching net zero by 2050.

It will help to chart the industry’s progress in delivering commitments made in the North Sea Transition Deal (NSTD) between government and industry in March 2021.

The first of its kind for a G7 country, the NSTD committed industry to emissions reductions from offshore production of 10% by 2025; 25% by 2027; and 50% by 2030, against a 2018 baseline, on the pathway to net zero by mid-century.

Achieving the NSTD targets is the absolute minimum the OGA expects from industry.

The early goals appear to be within reach, according to the report, which presents data on emissions reductions, flaring and venting, carbon intensity, and international comparisons.

Overall upstream greenhouse gas emissions fell by 11% between 2018 and 2020 due to proactive abatement initiatives, supported by OGA stewardship, a decrease in offshore activity, and the permanent shutdown of several high emitters.

Two-thirds of offshore installations decreased their emissions between 2019 and 2020, by 36% on average, and offshore flare volumes fell by 23% last year.

The report can be viewed here