Climate Change Data

Environmental Metrics

ESG Focus Areas

• Business Ethics
• Portfolio Resilience
• Decarbonisation
• Safety
• Community
• Health and Safety
• Climate Change and GHG Emissions
• Energy Use
• Effluents and Waste
• Water Security
• Biodiversity
• Supply Chain Management - Economic Value Generation
• Human Capital Initiatives
• Community Investment and Engagement
• Human Rights
• Public Policy and Government Relations
• Cybersecurity

Environmental Achievements

• Recorded a total net absolute GHG emissions of 6,703,195 tonnes of CO2e in FY2024, a 20% reduction against FY2020 baseline
• Implemented fuel switching initiative from diesel gensets to a hybrid of solar photovoltaic (PV) panels and/or small wind turbines in unmanned platforms
• Decreased freshwater dependency at Kinabalu Oil PSC by recycling water condensed from air-conditioning units
• Achieved 100% recycling of clothing (e.g., coveralls, towels, sheets) on the Anasuria FPSO
• Completed the Macrobenthos Study in LCOT showing remarkable richness and diversity in species

Social Achievements

• Achieved 43% of women representation on the Board
• Spent a total of RM1,410,741 in FY2024 for CSR initiatives reaching 46,556 beneficiaries
• Provided on-the-job guidance and exposure to a total of 24 interns from local and foreign universities

Governance Achievements

• Established Anti-Corruption and Anti-Bribery (ACAB) Policy, Code of Conduct and Ethics, Whistle Blower Policy and Anti-Modern Slavery Policy; and there were no incidents of bribery nor corruption in FY2024
• Maintained its constituency on the FTSE4Good Bursa Malaysia (F4GBM) Index

Climate Goals & Targets

Environmental Challenges

• Market: Possible decline in market demand for oil resulting in stranded assets.
• Price volatility of oil and gas.
• Technology: Widespread adoption of green/disruptive technologies displacing demand for oil.
• Policy and Legal: Tightening government policies on climate rules, implementation of domestic and cross border carbon tax.
• Reputation: Stigmatisation of the oil and gas sector due to perceptions of the sector’s contribution to climate change or detraction from energy transition.
• Climate-related physical risks, both acute and chronic, arising from extreme weather events and shifts in climate pattern may cause disruption to our business and have an impact on our portfolio of hydrocarbon assets.

Mitigation Strategies

• Improving the resilience of our hydrocarbon portfolio through the latest proposed acquisition of TotalEnergies Holdings International B.V. assets
• Implementing internal carbon pricing for development projects within the UK.
• Implementing continuous improvement in resource and operational efficiency, to further reduce unit production cost.
• Engaging in a progressive and measured exploration of investments in clean energy.
• Developing our decarbonisation roadmap that includes future initiatives for us to achieve our Scopes 1 and 2 reduction target of 50% by 2030 against FY2020 baseline.
• Pursuing decarbonisation opportunities, towards achieving our aspirational target of being Net Zero Emissions Producer by 2050, including: Fuel switching, Switching to energy efficient LED lights, Flare tip upgrades, Implementing Phase 2 of the Advanced Membrane trial, Undertaking first Methane Quantification Surveys, Undertaking an emission reduction focused Partner Workshop, Performing CCS studies, Implementing leak detection and repair (LDAR) programmes, Exploring opportunities for cost recovery of eligible decarbonising projects via carbon market.
• Maintaining our constituency on the F4GBM Index.
• Improving disclosure on waste and water management with the inclusion of data on total waste generated and total water used.
• Assessing any potential impact of climate-related physical risks, charting and implementing the necessary climate adaptation measures accordingly.

Supply Chain Management

Supplier Audits: Not disclosed

Responsible Procurement

• Awarding contracts to indigenous contractors in Sabah and Terengganu
• Compensating local service providers and suppliers

Climate-Related Risks & Opportunities

Physical Risks

• Extreme weather events
• Shifts in climate patterns

Transition Risks

• Market demand decline
• Price volatility
• Technological disruption
• Policy and legal changes
• Reputational risks

Opportunities

• Investments in clean energy
• Decarbonisation initiatives
• Cost recovery of eligible decarbonising projects via carbon market

Reporting Standards

Frameworks Used: Bursa Malaysia Securities Berhad (Bursa Securities)’ Main Market Listing Requirements (MMLR), Sustainability Reporting Guide and Toolkit (3rd Edition), FTSE4Good Index, UN SDGs, Greenhouse Gas (GHG) Protocol Corporate Accounting and Reporting Standard, Global Warming Potential (GWP) factors

Certifications: ISO 14001:2015, ISO 45001:2018

Third-party Assurance: Internal Audit; Independent third-party annual audit report on Anasuria Cluster’s GHG emissions data

UN Sustainable Development Goals

• 2
• 3
• 4
• 7
• 8
• 10
• 11
• 12
• 15
• 17

CSR initiatives aligned with UN SDGs 2, 3, 4, 7, 8, 10, 11, 12, 15, and 17; Goal 17 underpins all initiatives.

Sustainable Products & Innovation

• Not disclosed

Awards & Recognition

• The Edge ESG Award - Silver Award
• Anasuria asset achieved a Gold Award and the Patrons Award for 25 consecutive Gold Awards for health and safety performance from the Royal Society for the Prevention of Accidents (ROSPA)
• Four Offshore Energies UK (OEUK) and Step Change in Safety Awards