KOC commits to end flaring by 2030
Kuwait national oil company was among group of IOCs that signed up to 'Zero Routine Flaring' initiative
Kuwait Oil Company was among a group of 25 international oil majors and development organisations that signed up for an to end gas flaring by 2030.
The inititive called 'Zero Routine Flaring', was announced Friday by United Nations Secretary-General Ban Ki-moon and World Bank Group President Jim Yong Kim at an event in Washington D.C.
Oil majors such as France's Total, Norway's Statoil, Italy's Eni, and Royal Dutch Shell, among others, also signed up to the initiative.
With the exception of the U.S., a number of oil producing countries such as Norway, Russia, Cameroon, Kasakhstan, Gabon, Uzbekistan, Republic of Congo, France, Angola also joined.
All 25 members have agreed to cooperate to eliminate ongoing routine flaring as soon as possible and no later than 2030, and also to publicly report on their flaring and progress on an annual basis.
Kuwait is one of the GCC states commited to reducing its harmful emissions and in 2013 KOC reported that gas flaring dropped to 1.24% across its oil fields from a previous 1.25% tolerance.