Project description

The Oil and Gas Methane Partnership (OGMP) 2.0 is a global initiative led by UNEP to reduce methane emissions in the oil and gas sector. Companies representing over 35% of global oil and gas production participate and commit to reporting annual transparent methane emissions. To achieve the OGMP 2.0 Gold Standard, companies must use high-quality data, direct measurements, and detailed methodologies for emissions reporting. They also need to submit a methane reduction plan and a 3-year implementation plan. Achieving this standard highlights their commitment to transparency and positions them as leaders in methane emissions reduction, helping them identify and implement effective mitigation strategies.

In this context, Carbon Limits evaluated the implications of a large private oil and gas company becoming an OGMP 2.0 member, providing a better understanding of the requirements, benefits, and challenges, and how it might impact their operations and reporting processes, for the company to make an informed decision. 

Deliverables included:

• A gap analysis outlining the gap between the company's current reporting and emissions quantification practices and the requirements of OGMP 2.0
• A roadmap outlining steps to fill the gaps, including an estimate of human resources and costs
• An Excel-based cost model
• A preliminary version of the OGMP 2.0 implementation plan