Beatriz Espinosa, Petrobras' general manager for Energy Efficiency and Air Emissions, spoke about Company initiatives to mitigate climate change and presented its new targets to reduce its emissions intensity. "Petrobras is expected to double its production by 2020. With that in mind, the Company has set voluntary goals to reduce its emissions growth curve, and, in 2010, committed to maximizing its energy efficiency and decreasing the emissions intensity of its operations."
For 2015, our target is to reduce energy intensity at its refining and thermoelectric plant operations by 10% and 5%, respectively; to decrease natural gas flaring at its exploration and production operations by 65%; and to lower greenhouse gas emissions at its exploration and production, refining, and thermal power plant operations by 15%, 8% and 5%, respectively.
According to Spinoza, by taking on this commitment, we are in the forefront of the industry. In order to achieve these goals, we will invest $1.2 billion in energy efficiency projects, including in research and development in this area.
Our carbon capture, transport, and storage (CCS) projects were also presented during the event. Exploration & Production (Pre-salt) executive Alberto Sampaio spoke about the use of CCS technologies in the development of the Santos Basin's pre-salt cluster. Paulo Rocha, the coordinator of Petrobras' Pro-CO2 research program, discussed the technological challenges the oil and gas industry will face in order to adjust to the low-carbon economy. Altino Ventura, the Mines and Energy Ministry's secretary for Energy Planning and Development, and the US Department of Energy's secretary for fossil fuels, Charles McConnell, also attended the event.
Established in 1923, the World Energy Council is headquartered in London and comprises approximately 100 affiliated countries. Its main mission is to promote sustainable energy development."