Making the Most of Oil and Gas

Responsible, sustainable development of oil and gas resources is a cornerstone of our strategy. To do this, we are leveraging our technical, environmental and social expertise. We are continuing our initiatives to maximize our oil and gas production.

As well, we have been working for a number of years to commoditize certain petroleum and natural gas products and derivatives. One example is ethane, a derivative of natural gas that is treated and then used manufacture polyethylene (plastic).

Diversifying Our Supply

We believe that the future of energy entails a broader range of primary energies. That’s why we are working to add competitive energy solutions with a lower environmental impact to our fossil fuel offering. We are focusing on three promising pathways: solar energy, biomass and carbon chemistry, combined with carbon dioxide capture and storage. Our aim is to become a key player in all three within a decade, thereby helping to bring them to commercial maturity. We also consider nuclear power to be a key component of tomorrow’s energy mix. Our eventual aim is to become a nuclear power plant operator.

Developing Energies to Partner Oil and Gas

Mitigating Our Environmental Impacts

We are deploying an overarching strategy to manage and mitigate our greenhouse gas emissions, based on four strategically related approaches:

• Enhancing the energy efficiency of our facilities, products and services.
• Reducing the flaring of associated gas from our oil production.
• Developing carbon capture and storage.
• Developing energies that emit less carbon dioxide.

Together we expect these measures to reduce the greenhouse gas emissions of our operated activities by around 15% in 2015 from 2008 levels.

Mitigating our environmental impact also means continuously improving our scientific knowledge, practices and facilities and more effectively forecasting and managing our local environmental impacts.

We are focusing on:

• Water quality.
• Air quality.
• Waste management.
• Preserving biodiversity.
• Site reclamation.
• Pollution control preparedness.