The buyer is the Saras refinery in Sarroch, Sardinia.
According to Lundin, Edvard Grieg has been certified as a low-carbon field for full life-of-field emissions (3.8 kg of CO2 per boe), including exploration, development, and operation.
This percentage is five times less than the global average, the company claimed. From 2025, all barrels produced by the company are expected to be carbon neutral.
To supply a fully carbon neutral barrel to Saras, residual emissions of 2,302 metric tons (2,538 tons) of CO2 were compensated through a nature-based carbon capture project, certified by the Verified Carbon Standard, with the entire trade independently certified as carbon neutral by Intertek under its CarbonZero standard.
As a result, no net emissions were released during the production of each barrel delivered to Saras.
Saras is said to be a leading independent refiner in the Mediterranean region, with a production capacity of around 15 MMt/yr, and is developing various projects aimed at minimizing its environmental footprint.