We are a next generation UKCS operator seeking to unlock the long-term value that remains in the UKCS through an industry-leading commitment to upholding the highest standards with respect to environmental, social and governance policy.
In line with the Oil & Gas Authority’s position on Maximising Economic Recovery (MER), our approach centres on increasing the longevity of our assets by conducting highly efficient and cost-effective extractive practices and a full lifecycle approach.
In 2019 NEO’s assets had an average carbon emissions intensity lower than the UK average, and below the value that Oil and Gas UK has deemed necessary to meet the 2035 Net Zero vision. Our portfolio includes older assets and we acknowledge that these currently have higher carbon intensity and we aim to work together with our partners and explore the potential for emission reductions.
We are committed to the Oil and Gas UK Vision 2035 initiative, which provides an industry blueprint to support the national commitment to reach net zero emissions by 2050 and are exploring potential emissions reductions strategies for all assets.
In 2019, NEO committed £2.5 million to a Scottish university to support their carbon reduction studies and initiatives, as well as £0.5 million to GeoBus, an education industry initiative.
Our Health, Safety, Environment & Social Responsibility Policy Statement
As set out in our Health, Safety, Environment & Social Responsibility Policy Statement, we will conduct our business activities with a full commitment to the health and safety of people and to the protection of the environment.