PetroNeft Resources plc
Climate Impact & Sustainability Data (2021)
Reporting Period: 2021
Environmental Metrics
ESG Focus Areas
- Safety
- Environmental impact minimization
- Governance
- Social responsibility
Environmental Achievements
- Maintained a safety record with zero lost-time incidents in 2021 (and 2020)
- Almost completely used associated natural gas for on-site electricity generation and heating, dramatically reducing emissions
Social Achievements
- Supported local schools and re-forested areas no longer required for operations in the Tomsk region
- Created an ESG Committee reporting directly to the Board and supported by a new sustainability manager in Tomsk
Governance Achievements
- Refreshed and strengthened the Board with Alastair McBain as Non-Executive Chairman and Eskil Jersing joining the Board as Independent Non-Executive Director
- Established an Environmental, Social and Governance (ESG) committee
Climate Goals & Targets
Environmental Challenges
- Suspension of oil acceptance by Nord Imperial LLC from Licence 61
- Geopolitical turmoil and sanctions due to the Ukraine conflict
- Restrictions on fund transfers
Mitigation Strategies
- Focusing on finding a commercially viable solution for the Nord Imperial LLC pipeline situation
- Minimizing the impact of disruptions from sanctions and fund transfer restrictions
- Continuing to operate as best as possible and focusing on the effective and responsible development of assets