Certified, carbon neutrally produced oil sold
Lundin Energy AB (Lundin Energy) announced that it has sold the world’s first ever certified carbon neutrally produced1 oil to Saras S.p.A (Saras), from its Edvard Grieg field, offshore Norway.
- First ever certified carbon neutrally produced crude oil sold to Saras’ refinery in Sarroch, Sardinia
- Transparent pathway to carbon neutrality:
- Edvard Grieg certified as a low-carbon field, at 3.8 kg CO2 per boe
- 600,000 barrels of Edvard Grieg crude supplied
- Resulting 2,302 tonnes residual CO2 emissions captured using high quality, nature-based solutions
- Independent testing and certification specialist Intertek, certified full life of field CO2 emissions of every barrel as carbon neutral
- From 2025, all barrels produced by Lundin Energy will be carbon neutral in their production
Lundin Energy’s Edvard Grieg field is the first oil field in the world to be independently certified by Intertek Group plc (Intertek), under its CarbonClearTM certification. The field is certified as low carbon at 3.8 kg of CO2 per barrel of oil equivalent (boe) for full life of field emissions, including exploration, development and production, five times less than the world average2. In order to supply a fully carbon neutral barrel to Saras, residual emissions of 2,302 tonnes CO2 were compensated through a high quality, nature-based carbon capture project, certified by the Verified Carbon Standard (VCS). In addition, the entire trade was independently certified as carbon neutral by Intertek under its CarbonZero standard. As a result, there were no net emissions released during the production of each barrel delivered to Saras.
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Press release by: Lundin Energy