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Parex Resources
  • About Parex

    About Parex

    With over 10 years of experience, Parex is now the largest independent exploration and production company in Colombia. We are focused on delivering sustainable, conventional oil and gas production and growing our business over the long term.

    • Purpose
    • Leadership
    • Directors
    • History
    • Governance
  • Operations

    Operations

    Parex is focused on delivering safe, reliable production and exploration in Colombia. Learn more about our operations in the Llanos and Magdalena basins, and how we are progressing our strategy to grow production and become a multi-field operator.

    • Overview
    • Vendors & Contractors
  • Investors

    Investors

    Parex has a proven track record of success built on delivering total shareholder returns through growth and return of capital measures.

    • Why Invest?
    • Presentations & Events
    • Reports & Filings
    • Analyst Coverage
    • Tax Information
  • Sustainability

    Sustainability

    Delivering safe, responsible operations is foundational at Parex. We are committed to continuously improving our ESG practices, which include minimizing our environmental impacts, building lasting relationships with stakeholders and contributing to local community development.

    • Approach
    • Environment
    • Social
    • Governance
    • Reporting
  • News

    News

    Learn more about our latest business results, announcements and more.

    • Press Releases
    • Photo Library
    • Video Library
  • Careers

    Careers

    At Parex, our employees are the foundation of our success. Our culture embraces inclusion, diversity and innovation. We work collaboratively as a highly engaged and motivated team to solve challenges and deliver business results. Learn why you should join now!

    • Working at Parex
    • People & Culture
    • Current Opportunities
    • Fraud Alert

Environment

Approach Environment Social Governance Reporting
Environment
    Approach Environment Social Governance Reporting

Environment

Protecting the environment where we operate

Parex is committed to protecting the environment wherever we operate and takes all necessary steps to ensure compliance with environmental legislation. Monitoring and reporting programs for the environment, as well as inspections and assessments, are designed to provide assurance that environmental and regulatory standards are met.

2022 Environment Milestones

Deliver ~14% Annual Reduction
in scope 1 and 2 GHG emissions intensity
Generate ~1,431 MWh of Solar Energy
at the Cabrestero's 3.5 MW solar field, avoiding ~850 tCO2-e
Enhance Biodiversity
release 400 Galápago turtles as part of our Huella Galápaga

Measuring our Performance: Goals & Targets

We are focused on becoming one of the least carbon intensive E&P companies. To do this, we aim to reduce our Scope 1 & 2 GHG emissions intensity per boe from operated assets and have set clear targets:

Near-term Target

Eliminate routine flaring by the end of 2025, supporting the World Bank’s Zero Routine Flaring by 2030 initiative.

2025

Mid-term Target

Reduce Scope 1 & 2 greenhouse gas (GHG) emissions intensity by 50% from our operated assets by 2030 from a 2019 baseline.*

2030

Long-term Ambition

As an aspirational goal, achieve net-zero Scope 1 & 2 GHG emissions by 2050.*

2050

*Emissions reduction targets have been set relative to the combined 2019 emissions profiles for Parex.

Delivering Against Our Goals

Minimizing Our Footprint

We understand that energy conservation not only strengthens economic performance, but also reduces one of the factors contributing to climate change. We track the energy loads from operated fields on a daily basis, and apply innovative approaches to optimize the use of diesel, crude oil and gas in our operations processes.

Reducing Emissions With Geothermal Power

Our emission reduction strategy in the short to mid-term is focused on reducing flaring volumes, renewables and electrification, and delivering operational efficiencies. Explore one of our most recent emissions reduction initiatives, the installation of a geothermal power unit at the Las Maracas Field in this video.

Fueling Facilities with Solar Energy

In 2022, we launched our first solar installation at the Cabrestero field to help fuel the facility using solar energy. With 7,200 solar panels installed, the project will replace approximately 10% of the field’s energy requirements and contribute to our commitment to lower our carbon footprint.

Learn more about Parex:

2021 CDP Disclosure
View
2021 TCFD Inaugural Report
View
Sustainability Reporting
View
  • About Parex
    • Purpose
    • Leadership
    • Directors
    • History
    • Governance
  • Operations
    • Overview
    • Vendors & Contractors
  • Investors
    • Why Invest?
    • Presentations & Events
    • Reports & Filings
    • Analyst Coverage
    • Tax Information
  • Sustainability
    • Approach
    • Environment
    • Social
    • Governance
    • Reporting
  • News
    • Press Releases
    • Photo Library
    • Video Library
  • Careers
    • Working at Parex
    • People & Culture
    • Current Opportunities
    • Fraud Alert
Parex Resources

Tel: +1 (403) 265-4800

info@parexresources.com

Parex Resources

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