Climate Change Data

Environmental Metrics

ESG Focus Areas

• Environment
• Social
• Governance

Environmental Achievements

• 35% reduction in routine flaring since 2020
• 37 kg CO2e/boe in 2023 (45 kg CO2e/boe in 2020)
• Backfilled 27,000m3 of treated land
• 3 partnerships to conserve biodiversity

Social Achievements

• 24,210 training hours for all personnel
• 22% of local employees are women
• 81% of employees feel engaged with the company (2023 survey)
• Launched municipal plastic waste reduction project in Port-Gentil
• 102 internships and technical work placements offered to Gabonese people
• Maintained LTI-free since 2020

Governance Achievements

• Established board-level ESG committee
• Published tax strategy
• Achieved milestone results in major audits: 0 major non-conformities
• Received limited assurance for key 2022 emissions, flaring and safety metrics
• Reports in accordance with GRI Sustainability Reporting Standards
• Obtained medium ESG risk score from Morningstar Sustainalytics

Climate Goals & Targets

Environmental Challenges

• Supply chain disruptions due to the sale process of Assala Group
• Uncertainty about the future for employees and supply chain
• Increase in motor vehicle crash rate (MVCR) in 2023
• Challenges in recruiting women into technical and leadership roles
• Limited gas commercialisation opportunities in Gabon
• High Gas to Oil Ratios (GOR) in mature assets
• Lack of access to alternative energy sources
• High Basic Sediments and Water (BSW) wells
• Addressing scope 3 emissions
• Limited opportunity to address scope 3 emissions
• Reliance on value chain partners to provide data for scope 3 emissions
• Human-wildlife conflict
• Slash-and-burn agricultural practices
• Literacy issues in new hires

Mitigation Strategies

• Commitment to operating safely and responsibly
• Record level 378M USD in CAPEX investment
• Defensive driving training for 200 personnel
• In-vehicle monitoring systems (IVMS)
• Awareness campaigns on safe driving practices
• Gender-checked job adverts
• Anti-Harassment training for 839 employees and contractors
• Engagement with Gabon’s national taskforce for gas commercialisation
• Shutting in high GOR wells
• Investing in gas compression capacity
• Developing a diesel topping unit at Rabi
• Site-based emissions measurements to pinpoint and address direct methane sources
• Repairs and remediation actions to address sources of methane
• Two surveys per year from 2024 onwards
• Encouraging our caterers to purchase locally
• Rondani project for sustainable agriculture
• Donating pipes for reinforced barriers and funding the construction of electrified fences
• Supporting English and IT skills courses for Excellence Prize laureates
• Grassroots investments to encourage and support children and young people to reach their academic potential

Supply Chain Management

Supplier Audits: Not disclosed

Responsible Procurement

• Code of Conduct
• Anti-Bribery and -Corruption policies
• Trade Compliance policies
• Supplier Principles of Conduct (finalized in 2023)

Climate-Related Risks & Opportunities

Physical Risks

• Rising sea levels
• Increased risk of flooding
• Higher salinity of water tables
• Coastal and mangrove system erosion
• Changes in rainfall and temperature

Transition Risks

• Evolving government regulations
• Advancing technology
• Negative public opinion

Opportunities

• Development of energy-efficient products
• Reducing scope 3 emissions through diesel topping unit

Reporting Standards

Frameworks Used: GRI Standards, TCFD, Ipieca, IFC Performance Standards, UN SDGs, Equator Principles, IOGP

Certifications: ISO 14001

Third-party Assurance: Deloitte

UN Sustainable Development Goals

• Not disclosed

Not disclosed

Sustainable Products & Innovation

• Not disclosed

Awards & Recognition

• One of the top-performing companies in the 2024 Morningstar Sustainalytics Top-Rated ESG Companies List