GeoPark awarded at the Schneider Electric Sustainability Impact Awards for advancements in its greenhouse gas (GHG) reduction plan

GeoPark is one of the six companies in Colombia that received this distinction, the only one in the oil and gas industry.

GeoPark was awarded for its efforts in reducing GHG emissions in its operations, resulting from the implementation of an emissions reduction plan that has specific goals contributing to the compliance with the Nationally Determined Contributions (NDC) of the countries where it operates.

This oil and gas exploration and production company in 2022 (the first year of implementation of the aforementioned plan) achieved a significant milestone by reducing 34.2% the intensity of greenhouse gas (GHG) emissions from its operations compared to the previous year. According to the Colombian Institute of Technical Standards and Certification (ICONTEC), the company stopped emitting nearly 130,000 tons of CO₂ during this period.

This achievement is the result of actions such as the interconnection of the Llanos 34 block to the National Interconnected System (SIN), the commissioning of a 9.9 MwP photovoltaic solar plant in the same block, and the implementation of energy efficiency processes in critical areas of the operation. Additionally, thanks to the implementation of technology solutions, GeoPark achieved more efficient energy consumption in its operation, demonstrating its commitment to sustainability and becoming a benchmark for excellence in oil operations.

“I want to congratulate GeoPark for its progress and actions in favor of sustainability over the past year. Achieving carbon neutrality is a goal that goes beyond the company and is shared by the industry and society. We want to work together to share best practices and experiences to reduce greenhouse gas emissions and increase energy efficiency to mutually promote the decarbonization of industries. Definitely, GeoPark has played a prominent role in this journey over the past year,” expressed Carolina Calderón, Regional Leader of the Energy and Chemical segment at Schneider Electric.

In turn, Clara Sofía Gómez Botero, Sustainability Manager of GeoPark, stated: “These actions represent our commitment to our SPEED value system, which is our guide for decision-making in our Company. We know that low emissions intensity is a key element of our strategy reinforced through concrete goals that will lead us to be net zero carbon by 2050. We are proud to receive this recognition that reflects that we are moving in the right direction with our emissions reduction commitments, which, in addition to supporting the energy security of our operation, enables us to continue creating value for our stakeholders from an increasingly responsible and sustainable operation.”.

This project reflects the opportunities that exist in the oil and gas industry to continue advancing towards cleaner and more responsible operating models, a path in which technology is the key tool to achieve the most ambitious decarbonization goals while ensuring efficient and sustainable energy consumption.