Tethys Oil - ESG profile (ABG Sundal Collier)

2019-10-10 08:42
Multiple ESG concerns, by default
Being an oil and gas company, Tethys Oil has fairly high exposure to ESG concerns. These include CO2 emissions from production, the risk of oil spills, and the HSE risks that come with employees and contractors operating heavy machinery in challenging environments. This exemplified by the fact that there was a fatality in 2017 in relation to work on Blocks 3&4 in Oman.

Taking measures
The carbon intensity of Tethys Oil’s production was at 21.7kg CO2/boe for 2018, while the global average is at 18kg CO2/boe. One of the key reasons for the relatively high emissions is flaring of associated gas and diesel-run power generators. Oman has committed to reduce flaring of gas to zero by 2030, however. Tethys is participating in the task force to address the issue. One initiative being discussed is the use of associated gas for power-generation rather than flaring it. Tethys has hired an in-house HSE advisor to address both its internal procedures and its HSE operations issues. The company has published a sustainability report for 2018.


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Stockholmsbörsen, OMXS30

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