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Environmental deal with Pemex

September 22, 2005, 09:30 CEST

An agreement on developing projects in Mexico to cut greenhouse gas emissions in line with the Kyoto protocol has been signed by Statoil with state oil company Petróleos Mexicanos (Pemex).

Running from 2005-07, this collaboration aims to identify and pursue schemes which can win acceptance under the protocol’s clean development mechanism (CDM).

Possible projects will be managed by Pemex, with Statoil preparing the documentation required to secure approval from the UN’s executive committee for the CDM.

“We’ve concluded the agreement to meet our quota obligations and to help fulfil the Kyoto protocol,” says Per Øyvind Johansen, acting vice president for the new energy unit.

“We’re constantly working to develop good environmental solutions which contribute to reducing greenhouse gas emissions.

“As far as we’re concerned, this deal represents a new and important step in gaining experience with CDM projects.”

Statoil is pursuing a number of measures for meeting climate challenges, including improved energy efficiency and the use of renewable energy.

In addition come active use of the Kyoto mechanisms as well as action on carbon dioxide capture and storage.

The group opened an office in Mexico in 2001, and has since enjoyed a good collaboration with Pemex – including deals on technology sharing and health, safety and the environment.