Dragon Oil plc

Climate Impact & Sustainability Data (2014)

Installed additional equipment for short-term gas treatment to reduce air emissions.
Celebrated Earth Day with a harbor cleanup, collecting over 250kg of recyclable litter and planting 30 trees.

Employed 475 new people, with 93% of the workforce in Turkmenistan being Turkmen nationals.
Allocated approximately US$10 million annually for social and training projects in Turkmenistan.
Undertook numerous community projects in Hazar, including refurbishing educational quarters, building auxiliary buildings at nurseries, and refurbishing sanitary facilities at a secondary school.
Equipped Hazar's schools with interactive boards and conducted teacher training on using computer technologies in education.
Sponsored various sports events and made donations to charitable organizations.
Maintained a 98% employee retention rate.

No Board changes in 2014.
Implemented a Long-Term Incentive Plan to align senior management's interests with shareholders.
Signed an amendment to the PSA with the Turkmen government, formalizing the US$10 million annual commitment for social and training projects.

Medium-term Goals:

Maintain an average daily gross production of 100,000 bopd for at least five years from 2016.

Short-term Goals:

Limited export routes for crude oil production due to Turkmenistan's isolated geography and regional geopolitics.
Reliance on a single producing asset (Cheleken Contract Area) in Turkmenistan.
Political and fiscal risks in operating countries.
Attracting and retaining skilled human capital in a competitive market.
Unavailability or loss of drilling rigs in the Caspian Sea.
Finding reliable contractors for offshore and onshore construction projects.
Prolonged or sharp decline in oil prices.
Failure to replace, acquire, and develop additional reserves.
Securing approvals, licenses, and visas in different jurisdictions.
Compliance with international laws and regulations, particularly sanctions against Iran.

Reached a one-year agreement with two buyers for export production in 2015, diversifying marketing routes.
Adopted a clear strategy for growth and regularly reviews investment opportunities.
Focuses on corporate social responsibility (CSR) programs to ensure sustainability of operations.
Invests in training programs and benchmarks remuneration packages to attract and retain talent.
Contracted several jack-up and platform-based rigs for operations in Turkmenistan.
Diversified the Group’s supplier base.
Maintains significant cash resources and aims to finance capital expenditure internally.
Actively monitors oil price risks.
Takes additional steps to communicate and engage at the highest levels with government bodies.
Regularly reviews the scope and applicability of sanctions regimes with specialist lawyers.

Climate Change Data