Management of greenhouse gas emissions and energy

(103-1) At GeoPark we understand and share the global concern about climate change and the importance of contributing to its mitigation. Our challenge is to maintain an efficient operation and commit ourselves to reducing greenhouse gas (GHG) emissions in our operations.

(103-2) We manage GHG emissions in GeoPark by measuring the organizational carbon footprint and identifying and implementing action plans to reduce our emissions, always focusing on opportunities to improve and control our processes.

Oil and gas companies that want to adapt to change and be competitive in the future by reducing their impact must develop GHG emissions management strategies.

With support from international consulting firm Kearney we therefore began to design a corporate strategy to guide us in our implementation of operational and environmental compensation initiatives to reduce the impact of GHG emissions from our activities.

Considering the subsequent recommendations, we decided to expand the scope of our GHG emissions inventory, helping us to update our corporate emissions baseline in 2020 for all operated assets in production. This process allows us to propose strategies that contribute to reducing emissions in the medium and long term.

In 2020 we continued with important projects and promoted new ones to:

Continue the conversion of oil-fired steam boilers to natural gas in the Llanos 34 block in Colombia.

Build and starting operations of a pumping station in the Tigana field in Llanos 34, reducing tanker transport of hydrocarbons.

Start the socioenvironmental feasibility process of a project to connect to Colombia’s national power grid and so reduce gas consumption in the Llanos 34 block (Colombia).

Complete a project to interconnect the most important fields in Llanos 34 (Colombia) through a 34.5 kV power network. As a result, the Jacana field will be 100% connected to the power grid in this block (Tigana power plant), reducing gas transport and the associated GHG emissions.

Participate in the implementation of the Comprehensive Climate Change Management Plan for the mining and energy sector in Colombia, led by the Ministry of Mines and Energy and the Colombian Petroleum Association (ACP).

Identify oil & gas industry decarbonization trends and carrying out a global strategy benchmarking.

Start the environmental feasibility phase for the construction of a PV solar plant in our Llanos 34 block. This will help us to diversify energy sources and reduce GHG emissions.

In 2021 we will have the chance to share the impact of these activities on reducing GHG emissions.