- Heightened regulatory focus on greenhouse gas (GHG) emissions, potentially leading to operational changes, compliance costs, financial risks, and insurance/investment rate changes.
- Growing pressure from the financial community to divest from the fossil fuel industry, impacting production and demand for oil and natural gas.
- Increasing physical impacts of climate change, potentially affecting operations, demand, and workforce.
- Geopolitical tensions, shifts in energy demand, and the transition towards cleaner energy sources could lead to significant impacts on drilling operations.
Nabors Industries Ltd.
Greenhouse gas emissions & sustainability report data
In its 2023 reporting, Nabors Industries Ltd. disclosed greenhouse gas emissions of 1.1M tCO2e/year (Scope 1). By scope: Scope 1: 1.1M tCO2e/year; Scope 2: 7.5K tCO2e/year (US) + 6817 tCO2e/year (International); Scope 3: 21.9K tCO2e/year. Figures are as stated in the company's own report and may use different boundaries, units or methods (for example market-based vs location-based Scope 2), so compare with care.
GHG Emissions
1.1M tCO2e/year (Scope 1)
2023
Renewable Energy
0.11% of total energy use
of total energy
Water Usage
157.63 ML/year
2023
Waste
2.1K tons/year (hazardous and non-hazardous)
2023
Energy Use
1.4M MWh/year
2023
📊 Emissions by Scope (2023)
| Scope | What it covers | Reported value |
|---|---|---|
| Scope 1 | Direct emissions from sources the company owns or controls (fuel combustion, company vehicles, process and fugitive emissions). | 1.1M tCO2e/year |
| Scope 2 | Indirect emissions from purchased electricity, steam, heat and cooling. | 7.5K tCO2e/year (US) + 6817 tCO2e/year (International) |
| Scope 3 | Other indirect emissions across the value chain (purchased goods, business travel, use of sold products, etc.). | 21.9K tCO2e/year |
New to scopes? Read Scope 1, 2 and 3 emissions explained and market-based vs location-based Scope 2.
📈 Emissions by Report Period
| Report period | Headline emissions figure reported |
|---|---|
| 2023 | 1.1M tCO2e/year (Scope 1) |
| 2021 | 1.0M tCO2e/year |
| 2020 | 1.1M tCO2e/year |
Each row is the headline figure extracted from a different report; scope coverage and methodology can change between years.
✅ Reported Environmental Achievements
- Reduced Scope 1 GHG emissions per foot drilled by 3% for Nabors Drilling USA, relative from 2022.
- Reduced Scope 1 GHG emissions per foot drilled by 3% for Nabors Drilling International, relative from 2022.
- Completed business combination agreements with VAST, a next generation concentrated solar power platform that enhances the Energy Transition portfolio.
- Electrified one customer’s entire North Dakota rig fleet with grid utility power.
- Achieved a decline in Scope 1 GHG emissions per foot drilled compared to our 2020 baseline, surpassing our target of 5% established last year (Nabors International).
- Nabors Drilling USA has seen a reduction in Scope 1 GHG emissions per foot drilled, exceeding our target of 3% from 2020.
🎯 Climate & Sustainability Targets
🔜 Short-term
- Achieve a 3% reduction in Scope 1 GHG emissions intensity for Nabors Drilling USA in 2024, using 2023 baseline.
- Achieve a 3% reduction in Scope 1 GHG emissions intensity for Nabors international rigs in 2024, using 2023 baseline.
📅 Medium-term
- Achieve at least 30% females with the ACE Program (Actively Changing Energy flagship engineering).
- Achieve at least 60% of all new hires of US SGA & FS to be diverse.
🌱 ESG Focus Areas
Climate ChangeSocial ResponsibilityGovernance