Egyptian General Petroleum Corporation partners with DNV to achieve sustainability goals

Egyptian General Petroleum Corporation partners with DNV to achieve sustainability goals

(IN BRIEF) DNV, an independent energy expert and assurance provider, has signed a Memorandum of Understanding (MoU) with the Egyptian General Petroleum Corporation (EGPC) to support their efforts in setting science-based targets for their net zero goals. EGPC is aiming to achieve the country’s Sustainable Development Goals (SDGs) in line with the Paris Climate Agreement’s 1.5°C pathway, as part of the “Egypt Vision 2030” national plan. DNV will provide technical advisory support to establish EGPC’s strategy and execute its plan to align with Egypt Vision 2030, covering all dimensions of the country’s SDGs. DNV will also support EGPC in delivering studies related to net-zero emission and carbon capture, utilization, and storage projects, as well as delivering training programs for EGPC’s sustainability committee, management, and affiliated companies. The MoU signing ceremony was witnessed by the Minister of Petroleum and Mineral Resources and Norway’s Ambassador to Egypt and Libya.

(PRESS RELEASE) CAIRO, Egypt, 6-Apr-2023 — /EuropaWire/ — Independent energy expert and assurance provider, DNV, has signed a Memorandum of Understanding (MoU) with the Egyptian General Petroleum Corporation (EGPC) to support their efforts in setting science-based targets for their net zero goals. EGPC is setting these targets as part of the “Egypt Vision 2030” national plan, aimed at achieving the country’s Sustainable Development Goals (SDGs) in line with the Paris Climate Agreement’s 1.5°C pathway, and DNV is committed to supporting this goal.

Under the MoU, DNV will provide technical advisory support to establish EGPC’s strategy and execute its plan to align with Egypt Vision 2030, covering all dimensions of the country’s SDGs. The partnership will identify the economic, social, and environmental risks, opportunities, and impacts of EGPC’s activities for all relevant stakeholders, work on enhancing EGPC’s reporting system, and build awareness on sustainable development reporting.

DNV will also support EGPC in delivering studies related to net-zero emission and carbon capture, utilization, and storage projects. Furthermore, DNV will deliver training programs for EGPC’s sustainability committee, management, and affiliated companies.

The MoU signing ceremony in Cairo was witnessed by HE Eng. Tarek El Molla, Minister of Petroleum and Mineral Resources, and HE Hilde Klemetsdal, Norway’s Ambassador to Egypt and Libya.

“DNV follows best practices from the World Business Council for Sustainable Development (WBCSD)’s global survey to align with the UN SDGs). Our extensive experience and expertise in the energy transition will help EGPC achieve their goals, and, in turn, feed into Egypt’s decarbonization strategy –  which is key to reaching the required emissions reduction”, explained Santiago Blanco, Executive Vice-president and Regional Director for Southern Europe, Middle East and Latin America, Energy Systems at DNV.

Overall, this MoU reinforces DNV’s commitment to tackling climate change and supporting the transition to a sustainable future.

About DNV

DNV is an independent assurance and risk management provider, operating in more than 100 countries. Through its broad experience and deep expertise DNV advances safety and sustainable performance, sets industry standards, and inspires and invents solutions.

Whether assessing a new ship design, qualifying technology for a floating wind farm, analyzing sensor data from a gas pipeline or certifying a food company’s supply chain, DNV enables its customers and their stakeholders to manage technological and regulatory complexity with confidence.

Driven by its purpose, to safeguard life, property, and the environment, DNV helps its customers seize opportunities and tackle the risks arising from global transformations. DNV is a trusted voice for many of the world’s most successful and forward-thinking companies.

In the energy industry

DNV provides assurance to the entire energy value chain through its advisory, monitoring, verification, and certification services. As the world’s leading resource of independent energy experts and technical advisors, the assurance provider helps industries and governments to navigate the many complex, interrelated transitions taking place globally and regionally, in the energy industry. DNV is committed to realizing the goals of the Paris Agreement, and supports customers to transition faster to a deeply decarbonized energy system.

Media contacts:

Penda Sall
Media Relations, Energy Systems
Phone: +33 651 69 88 64
contact.energysystems@dnv.com

Neil James Slater
Head of Media Relations, Energy Systems
Phone: +44 2038165702
contact.energysystems@dnv.com

SOURCE: DNV AS