Net Zero is particularly interesting given the work Petrofac is doing on reaching Net Zero targets before 2030. Can you tell us more?
Climate considerations are especially important for companies working in the oil and gas sector. Our strategy at Petrofac to reach Net Zero will be met through our five areas of focus: 1) switching energy supply to renewable, 2) improving energy efficiency, 3) emissions reductions, 4) electrification of transport, and 5) our actions taken against Scope 3 emissions from single use plastic and transportation.
We are aware that the world will continue to depend on fossil fuels during the transition to renewable energy, and it is important to offset our carbon footprint in the areas in which we can’t stop it. The credibility of our approach and the ‘additionality’ it brings – does it create jobs elsewhere, does it have other co-benefits – determines the quality of our carbon offset. This is what we are looking at in detail.
And this is closely tied with our New Energy Services business, which you helped develop?
I have always been passionate about renewable industry and renewable technologies. I have spent a significant part of my career working on renewable energy projects and that experience has allowed me to be a part of New Energy Services.
An important part of Petrofac’s operating model is the single technical services function providing technical excellence and independent assurance for our global projects. Can you tell us more about 1tec and your work on setting up what many call ‘the technical heart of the company’?
We wanted to look at the experience of our entire workforce and identify how can we connect all the different technical functions globally. We didn’t want to ‘reinvent the wheel’, but to make use of the existing experiences of our people. Have they come across similar problems before? Have they used a certain engineering software, or codes and standards? This should help us achieve competitive solutions for us and our clients, and in general be more efficient.