June 10, 2024

Sustainability Report 2023

We are pleased to announce the publication of the latest XP's Sustainability Report, detailing our comprehensive efforts and achievements in enhancing the sustainability of mature oil and gas fields.

In 2023, XP achieved Gold Standard Pathway status from the Oil & Gas Methane Partnership, reflecting our commitment to achieving the highest level in methane emissions monitoring. Building on this, XP’s 2023 report adopts OGMP level 3 guidelines, enhancing the accuracy of our emissions inventory and enabling us to address more leaks effectively.

Among other notable achievements: 

  • An 85% reduction in the energy intensity of our operations over the past decade
  • The launch of XP Upgreen to assist partners with regulatory compliance
  • The successful implementation of our first leak detection and repair program in both Romania and Ukraine
  • Continued investment in Ukraine to increase production, optimize operations, and decrease methane emissions
  • Preparing fields managed by XP to comply with EU methane regulations in both Romania and Ukraine
  • Expanding and the opening of a new office in Astana, Kazakhstan

XP’s CEO, David Martinon, stated, “XP’s strategy goes beyond increasing production and reserves; it encompasses reducing the environmental footprint of our operations, ensuring a safe and healthy workplace for our employees, and striving for operational excellence guided by the highest business ethics standards.”

For detailed insights into our sustainability performance and future plans, we invite you to explore our full report here.