Less than two weeks before releasing quarterly earnings, Lundin Petroleum said in a sustainability report its work offshore Norway was among the greenest.

The Swedish company published a report on sustainability before the May 11 release of earnings for the first quarter. Reiterating a commitment to a clean footprint, the company said 2015 was a pivotal year for the industry.

"Some believe there is a trade-off between ethical and commercial considerations," President and CEO Alex Schneiter said in a statement. "We do not."

Norwegian energy company Statoil last year set a path toward investing up to $200 million in renewable energy by buying into startups targeting opportunities in wind power, energy storage, smart grids and other energy-related technology. The company in 2015 joined nine of the world's largest oil and gas companies in pledging to play a constructive role in reducing the intensity of global greenhouse gas emissions.

Statoil spent $538 million to acquire an 11.9 percent stake in Lundin early this year, describing it as a way to add value to its position on the Norwegian continental shelf. Lundin has struggled through the market downturn, trimming its production guidance lower last year to 32,000 barrels of oil equivalents per day in part because of infrastructure delays for its Edvard Grieg field off the coast of Norway.

Lundin said 2015 was "transformational" in part because Edvard Grieg and two other fields were now in production. The company said Edvard Grieg was operating with the environment in mind.

"The nearby Johan Sverdrup field, which is scheduled to come onstream in late 2019, will receive power from shore from the start," the company said. "As a result, offshore emissions from Johan Sverdrup are estimated to be reduced by 80 to 90 percent compared with a standard development."