Managing risk and opportunities means:

  • Fostering collaboration and coordination among asset teams
  • Minimizing long-term risks through use of technology and innovation
  • Developing fit-for-purpose solutions and opportunities for each asset within the local context
  • Collaboration and best practices development with industry organizations

Progress on our multi-year plan includes:

Managing Risks & Opportunities
Determine approach to baseline data management and mapping
Collaborate with stakeholder engagement team to identify and address questions and concerns of local stakeholders regarding biodiversity risks for priority assets 3
Identify and evaluate opportunities and impediments and biodiversity trade-offs to biodiversity offsets 3
Identify and deploy technology innovation to reduce the equipment, roadways and pipelines needed to complete project 4

 As a member of the International Association of Oil and Gas Producers (IOGP) and IPIECA’s Biodiversity and Ecosystem Services Working Group, we contribute to the development of tools and guidance documents to improve the way the industry recognizes and manages biodiversity risks, including:

Technology & Innovation

Several projects in our action plan focus on how technology can be employed to reduce our biodiversity risks. For example, we are using horizontal and directional well drilling technology to reduce our land footprint for accessing resources, we support testing of new technologies to better understand the migratory connectivity of bird species, we are developing innovative technologies to reclaim well sites and restore sensitive peatland ecosystems, and we planted mangroves to increase carbon sequestration. These innovations also reduce the equipment, roadways and pipelines needed to complete a project.