EMISSIONS REDUCTION

OUR COMMITMENT TO REDUCING GHG EMISSIONS

We produce the energy the world needs, safely, reliably, and responsibly. With a long-term vision since we were founded in 2002, we established high standards that guarantee that we produce clean energy while protecting the environment and benefiting our neighboring communities, our employees, our shareholders and our stakeholders in general.

The greenhouse gas (GHG) emissions intensity from GeoPark’s operations in 2020 was 15.2kg CO2e per barrel of oil equivalent, 28.3% below global industry average. In 2021, we announced a GHG emissions reduction strategy covering short, medium and long-term initiatives.


“GeoPark was built for the long-term to be a leader among independent oil and gas exploration and production companies in Latin America on the foundation that our operations would create value and have a positive impact on all stakeholders. Our carbon reduction plan announced today builds on that principle with low costs and low carbon intensity being key elements of our business model. We congratulate our team that has been working so hard to build a robust strategy with ambitious goals and actionable initiatives that will introduce real change in the short-term.”

James F. Park
CEO


OUR GOALS
35-40%
EMISSIONS INTENSITY REDUCTION OF SCOPE 1 AND 2 EMISSIONS BY 2025 OR SOONER
40-60%
EMISSIONS INTENSITY REDUCTION OF SCOPE 1 AND 2 EMISSIONS
BY 2025-2030
NET ZERO
SCOPE 1 AND 2 EMISSIONS BY 2050 OR SOONER

GHG EMISSION REDUCTION ACTIONS AND STRATEGY
Emissions reduction strategy line

We will continue reporting progress towards our emissions reduction goals using GRI, IPIECA and SASB standards, alongside other relevant methodological frameworks.

Click here to see the summary of the GeoPark Emissions Reduction Strategy.


MEASURING GHG EMISSIONS
Logo ICONTEC

The first step in managing GHG emissions is building a baseline. Since 2017, GeoPark has certified the greenhouse gas inventory of its operations in Scopes 1 and 2 in Colombia, through the ISO 14064 standard of the Colombian Institute of Technical Standards and Certification (ICONTEC). See certificate


With technical support from Kearney, a globally recognized consulting firm, in 2020 we expanded our inventory of GHG emissions to include all our operations. This baseline showed that total Scope 1 and 2 GHG emissions are 388.7 tons of CO2e, of which more than 77% are from the Llanos 34 block in Colombia.

The generation of cleaner energy and the greater energy efficiency are a fundamental part of our strategy to reduce carbon emissions by 35-40% by 2025 and by 40-60% by 2030.

See our 2020 SPEED/ESG Report for information on the baseline of our emissions in all our operations.