i3 Energy Plc and Trido Energy Services initiate more methane reduction programs

Trido Energy Services (www.tridoenergyservices.com), a Centurion company and leading provider of sustainable and innovative solar-powered production equipment to the energy industries based in Calgary, Canada, and i3 Energy plc (“i3”), an independent oil and gas company with assets and operations in the U.K. and Canada, are pleased to announce phase three of their emission reductions program under Trido’s carbon credit program.

Trido joined Centurion in April 2022 as part of a transformational acquisition — representing the Group’s first ever renewable energy technology business to join the Group. The acquisition extended Centurion’s opportunities to work alongside customers to develop solutions to their environmental and sustainability challenges, in addition to supporting Centurion’s own Environment, Social and Governance (ESG) agenda.

i3’s program formally launched in February 2021. The program’s purpose is to reduce i3’s methane venting at its well sites. The program involves using innovative solutions to reduce and eliminate various methane sources — a key target as methane is a potent greenhouse gas. The combination of these programs will result in a reduction of 71,450 tonnes of CO2e annually — the equivalent of removing 15,530 cars off the road annually (1).

In phase one of the program, high bleed devices were upgraded to their low bleed alternatives and pumps were replaced. The work conducted in this phase removes the equivalent of 29,000 tonnes of CO2e annually.

Phase two involved the replacement of i3’s current pneumatic pumps with Trido’s innovative solar driven pumps on reactivated wells, resulting in the annual equivalent removal of 4,700 tonnes of CO2e. The second phase was completed in October 2022.

Phase three was launched in October and involves the replacement of pumps on i3’s Central Alberta assets acquired from Cenovus Energy. Approximately 400 pneumatic pumps will be replaced with non-venting Trido solar driven pumps. This will result in an annual CO2e reduction of 11,600 tonnes.

In addition to i3’s emission reduction program, Trido is also managing the carbon credits for several of their other assets, which generate approximately 26,150 tonnes of CO2e each year.

i3 is a London (AIM:i3E) and Toronto (TSX:iTE) listed energy company with a diverse, full-cycle portfolio of assets in the Western Canadian Sedimentary Basin (WCSB) and U.K. North Sea (UKNS). i3 is on the forefront of emission reductions and has committed to minimizing its environmental impact through initiatives designed to optimize operational efficiencies, while directly resulting in a more environmentally conscientious business.

1. A typical passenger vehicle emits about 4.6 metric tons of carbon dioxide per year. This assumes the average gasoline vehicle on the road today has a fuel economy of about 22.0 miles per gallon and drives around 11,500 miles per year. Every gallon of gasoline burned creates about 8,887 grams of CO2. *Source: EPA website.

Enquiries:

Tulchan Communications
Martin Robinson / Guy Bates / Toby Zeal
+44 (0) 207 353 4200 / centurion@tulchangroup.com

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