Decommissioning and remediation
We manage properties from start to finish, long before the first well, refinery, gas station or renewable diesel manufacturing complex goes up and long after operations end. When properties are no longer supporting operations, they are decommissioned and moved into a category we call “surplus properties.”
Our rehabilitation approach varies depending on the location and the environmental characteristics of the site, but all sites go through rigorous assessment and risk evaluation to determine the most appropriate remediation strategy. Our ultimate goal is to reduce environmental liability and enhance the value of the property, while creating opportunities for beneficial reuse.
Innovative remediation approaches
We are currently focused on using digital tools to more effectively manage surplus sites with the potential to combine redevelopment opportunities with risk management solutions. We are in the process of implementing a new mapping tool that uses advanced data techniques for reporting and analysis to allow us to better assess our comprehensive national portfolio. The digital tool helps identify opportunities to repurpose our surplus sites for valuable and potentially sustainable opportunities including ecological, lower-carbon solutions like tree planting, or leasing properties in long-term monitoring stages that could be suitable for use as solar farms to generate lower-emission power for adjacent communities.
In addition to innovating solutions for longer-term risk management, our remediation teams, along with internal research partners, collaborate with industry and academia to develop and test technical and economic feasibility of advanced remediation technologies. We are currently piloting phytoremediation, using plants to remove contaminants from soil at 10 sites. We believe this is a viable technology and are in the process of learning how best to apply it, what maintenance is required and what plant species work the best.
In 2021, we spent more than $80 million on assessment, risk management, land remediation and reclamation activities, supporting 140 properties being put into new productive use via sale or lease. The intended end land use of these sites ranges from natural and agricultural to residential, recreational, commercial and industrial.
Sustainability reporting and metrics