Acknowledgements iii

Abbreviations iv

Glossary v

List of tables viii

List of figures ix

Foreword xi

Executive summary xii

1. Partnership highlights 1

  1.1. Growth of the partnership 2

  1.2. Community of practice 3

  1.3. Measurement-driven mitigation: Member stories 5

  1.4. Increasing transparency at asset level 5

2. Company performance: What the data tell us 6

  2.1. OGMP 2.0’s approach to assurance 6

  2.2. Measurement-based reporting is on the rise 7

  2.3. Mapping methane: How upstream, midstream and downstream contribute 7

  2.4. Assets with particular characteristics have higher emissions 8

  2.5. Progress on non-operated joint ventures 9

3. Level 5 analysis: Key findings 10

  3.1. Global oil and gas assets at Level 5 10

  3.2. Multiple site-level measurement approaches support Level 5 reporting 11

  3.3. Reconciliation refines emissions estimates in both directions 12

  3.4. Level 5 reveals which sources matter most 13

  3.5. What the findings mean for methane intensity 15

4. OGMP 2.0 methane emissions performance targets are aligned with global goals 17

  4.1 Collective ambition of OGMP 2.0 members 18

  4.2 OGMP 2.0 members’ methane intensity performance 18

  4.3 Progress against company targets 19

5. OGMP 2.0’s relevance for buyers, financial institutions and policymakers 20

  5.1. Forward-looking Level 5 production coverage 21

6. What is next for OGMP 2.0 23

Annex A: About the OGMP 2.0 reporting framework 24

Annex B: A snapshot of individual company performance 27

References 32