UK North Sea producer Ithaca Energy has estimated greenhouse gas (GHG) emissions from its proposed Cambo field at up to 100mn t/CO2 equivalent (CO2e) over its lifetime, according to an updated environmental statement.
The field's upstream GHG emissions are estimated to average around 130,300 t/yr of CO2e, once it is fully producing, from 2031-2055, Ithaca said. This would equal 1.1pc of annual UK oil and gas sector upstream emissions, in relation to 2024 figures, Ithaca said.
The company estimated that the transportation, distribution and refining of hydrocarbons from Cambo would result in 18.9mn t/CO2e and the end-use emissions — those from burning the refined products — would reach 82mn t/CO2e.
"The overall cumulative effect on global climate change of all Cambo emissions is minor and therefore may be considered as not significant", Ithaca said.
GHG emissions from Cambo "are most likely to be in line with a climate pathway that limits warming to 2°C by 2100 but exceeds warming of 1.5°C during the 21st century", Ithaca said. The Paris climate agreement seeks to limit the global rise in temperature to "well below" 2°C above pre-industrial levels and pursues a 1.5°C threshold.
Oil and gas companies seeking to develop UK fields must now submit estimates of scope 3, or end-use, GHG emissions in their environmental statements.
Norway's Equinor, which is aiming to develop the nearby Rosebank field, estimated scope 3, or end-use, GHG emissions from Rosebank at 249mn t/CO2e over its lifetime.
Ithaca plans to begin drilling in the third quarter of 2028, with first oil expected in the fourth quarter of 2030, it said. It anticipates that Cambo will produce hydrocarbons until 2055.
Ithaca is sole owner of Cambo, having acquired Shell's 30pc stake in 2023. Its production licence for the field was extended last year until 30 September 2027.
Cambo is the "second largest undeveloped oil and gas discovery in the UK North Sea", according to Ithaca, with around 170mn bl of oil equivalent of recoverable resources.
The UK government has committed to ending new offshore oil and gas licensing, though it recognises a transitional role for oil and gas as the country decarbonises, and will permit some new wells, connected to existing infrastructure.
The UK has a legally binding target of net zero GHGs by 2050. Ithaca said it would meet "all necessary legal and industry-wide agreed GHG removal requirements that may be implemented" to offset emissions produced after 2050.
