Canadian oil and gas exploration company Africa Oil Corp has announced plans to implement two carbon offsets projects in Kenya to accelerate its decarbonization efforts and diversify revenue streams in the energy transition era.
The company will focus on nature-based carbon offset projects it can directly control and monitor for quality and progress, aligning with its commitment to environmental sustainability.
“Markets for new products and services may present opportunities for the company to expand or diversify the company’s lines of business, helping to grow or at least offset potential losses of revenue associated with our traditional business activities,” Africa Oil Corp has stated.
The plan aligns with Africa Oil Corp’s overarching goal to attain carbon neutrality across its operations by 2025 while bolstering its commitment to environmental and social development.