Business
PetroTal Announces Third Annual ESG Sustainability Report and Drilling Commencement of Well 16H
Scope 1 emissions of 6.96 kg CO2eq/bbl Material carbon offset project evaluations initiated Cal...
About this update from Petrotal Corp.
[{"type":"text","content":"PetroTal Announces Third Annual ESG Sustainability Report and Drilling Commencement of Well 16HScope 1 emissions of 6.96 kg CO2eq/bblMaterial carbon offset project evaluations initiatedCalgary, Alberta and Houston, Texas--(Newsfile Corp. - November 30, 2023) - PetroTal Corp. (TSX: TAL) (AIM: PTAL) (OTCQX: PTALF) (\"PetroTal\" or the \"Company\") announces the release of its 2022 ESG Sustainability Report, which has been posted on the Company's website (www.petrotal-corp.com).2022 marked another significant step forward in terms of ESG reporting and standards achieved, aligning key projects with the UN Sustainable Development Goals (\"SDG\") and improving the quality of life for many Peruvians.PetroTal is committed to providing a sustainable business plan that delivers meaningful opportunities for all stakeholders, which includes dedicating significant attention, consideration and resources to environmental stewardship and social responsibility, with a constant and uncompromising commitment to safety, ethics and transparency.Manuel Pablo Zuniga-Pflucker, President and Chief Executive Officer, commented:\"PetroTal is very pleased to present its third annual ESG report covering operations for 2022. We have trended portions of our ESG data from previous reports, and feel these trends show a significant advancement in our ESG practices and reporting from three years ago. We are particularly pleased with our ability to scale scope 1 carbon emissions down to 6.96 kg CO2eq/bbl from 11.4 kg CO2eq/bbl in 2021. The Company has many exciting ESG related projects in development and is looking forward to communicating them in 2024 and beyond.\" The key highlights from the Company's third annual 2022 ESG report are noted below.Distributed economic value in Peru of US$92.7 million in 2022 encompassing operating costs, salaries and benefits, payments to government and community investments including amounts related to the 2.5% development fund created by PetroTal in late 2021;Significant climate change related projects which include but are not limited to:An evaluation of the Bretana oilfield's geothermal energy generation potential, driven from the near boiling water produced from the Company's fluid production;A diesel to solar panel transition at the Bretana oilfield and nearby communities;A field wide reduction of flare gas from gas to power...