Seacrest Petroleo Bermuda Limited
Climate Impact & Sustainability Data (2022)
Reporting Period: 2022
Environmental Metrics
Total Carbon Emissions:42750 tCO2e/year
Scope 1 Emissions:42112 tCO2e/year
Scope 2 Emissions:638 tCO2e/year
Renewable Energy Share:2% of total energy use
Total Energy Consumption:64852 MWh/year
ESG Focus Areas
- Health and Safety
- Climate and the Environment
- People
- Local Communities
- Business Conduct
Environmental Achievements
- Leveraging existing infrastructure for its activities, removing a substantial source of emissions.
- Reduced hydrocarbon spills to the environment (oil): 3
Social Achievements
- Excellent health & safety performance during the year with no major incidents of harm to people or the environment.
- Developing strong relationships with local communities.
- Supporting educational initiatives for local communities (donations, mentoring, education development programs).
Governance Achievements
- Established policies for safety, security, occupational health and environmental management.
- Established a reporting channel for employees, contractors, and other stakeholders to confidentially report concerns or complaints.
Climate Goals & Targets
Short-term Goals:
- Increase combined production from Cricaré and Norte Capixaba Clusters by threefold by 2025.
Environmental Challenges
- Risk of environmental impacts, such as oil spills and leaks.
- Physical climate risk due to increased frequency and severity of storms.
- Longer-term transition risks including global carbon emission taxation schemes and restricted access to financing.
Mitigation Strategies
- Complying with all license-to-operate requirements when it comes to environmental management.
- Setting clear targets for performance related to carbon emissions.
- Developing discovered oil and gas resources through the use of existing production infrastructure.
Supply Chain Management
Responsible Procurement
- Investments to generate opportunities for local workforce, contractors and suppliers.
Climate-Related Risks & Opportunities
Physical Risks
- Increased frequency and severity of storms resulting in production disruptions and damage to equipment and assets.
Transition Risks
- Global carbon emission taxation schemes impacting demand for hydrocarbons or profitability.
- Restricted access to financing due to lender preferences for renewable energies.
Reporting Standards
Frameworks Used: SASB, S&P Global frameworks