Managing our resources wisely for the generations to come and capturing more of their value is at the core of our long-term commitment to building a sustainable energy economy and delivering the foundation for a prosperous tomorrow.
Enabling energy sustainability is about optimizing all of the practices and technologies used in the discovery, recovery, processing, distribution and end-use of our energy resources. It means actively promoting and supporting a shift to an energy efficiency culture both within our company and Kingdom-wide.
Our energy efficiency efforts are guided by our Energy Management Program, which is rooted in four core principles:
- Reduce energy consumption at our facilities by 2% per year
- Design new facilities to be energy efficient
- Increase overall energy efficiency
- Influence and promote energy efficiency at the national level
Our R&D programs address four areas of strategic importance: Sustaining low carbon intensity crude oil, growing non-fuel applications for crude oil, advancing sustainable transport, and driving high-impact solutions. And to address these areas we are harnessing the power of the Fourth Industrial Revolution with technologies that include big data, advanced analytics, and artificial intelligence. For example, our Engineering Solutions Center combines operational data, advanced analytics, and in-house technologies and expertise to monitor company energy consumption and achieve near zero flaring intensity.
We continue to make progress toward reducing the environmental impact of our operations through a number of means, in particular, the search for technological solutions to lower greenhouse gas emissions through carbon capture and sequestration, and research into advanced engines and fuel formulations. In a major milestone, we recently launched a pilot program to capture CO2 and inject it underground to enhance oil recovery.
We also work to improve wastewater management and preserve groundwater resources, conserve and enhance biodiversity, and minimize waste disposal.