Climate Change Data

Environmental Metrics

ESG Focus Areas

• Environmental Sustainability
• Social Responsibility
• Corporate Governance

Environmental Achievements

• Consistently operated facilities within MARPOL water discharge standards
• No regulatory reportable spills or loss of containment impacting the environment
• Undertook a comprehensive baseline study to understand and manage carbon footprint
• Built infrastructure at Etame field for increased production with less emissions per barrel

Social Achievements

• Approximately 33% of Houston management team and 20% of Gabon management team are female
• 93% of Gabon workforce is Gabonese
• Contributed COVID-19 supplies and safety programs to 30 Gabonese schools
• Supported Krause Children’s Center in Houston and Junior Achievement programs

Governance Achievements

• Amended Nominating and Corporate Governance Committee charter to include ESG oversight
• Created a committee to monitor ESG standards and report to the Board
• Expanded use of ESG metrics in executive compensation
• 75% of the Board is independent; female director on every Board committee

Climate Goals & Targets

Environmental Challenges

• COVID-19 pandemic and its impact on oil prices and operations
• Supply and demand imbalances in the energy industry

Mitigation Strategies

• Implemented changes to protect employees and communities (quarantining, testing, remote work)
• Continued efficient and effective operations throughout 2020
• Successfully completed 2019/2020 drilling campaign, increasing production by 40%
• Implemented temporary salary reductions for executives and employees in response to economic downturn

Supply Chain Management

Climate-Related Risks & Opportunities

Environmental Metrics

ESG Focus Areas

• Environmental Stewardship
• Human Capital
• Corporate Governance

Environmental Achievements

• Replaced and upgraded offshore power generation with state of the art, cleaner burning units.
• Initiated replacement of single hull FPSO to a newer generation, double hull FSO that will reduce overall field emissions.
• Began implementation of a field wide hydrocarbon emission leakage detection program.
• Consistently operated facilities within the MARPOL water discharge standard.
• No regulatory reportable spills or loss of containment that impacted the environment.

Social Achievements

• Provided significant funding to rehabilitate schools, provide medical supplies and support various non-governmental organizations that improve the social fabric of local communities in Gabon.
• Completed numerous projects in the health and education sectors in rural Gabon (with support from the Ministry of Petroleum).
• Continued support for the Krause Children’s Center in Houston.
• 92% of Gabon workforce is Gabonese; approximately 28% of Houston management team is female; approximately 26% of Gabon management team is female.

Governance Achievements

• Amended Nominating and Corporate Governance Committee charter to include oversight of ESG policies and programs.
• Created a committee (executive team and cross-section of employees) to monitor adherence to ESG standards and communicate findings to the Nominating and Corporate Governance Committee.
• Hired a full-time ESG Engineer.
• Released 2020 ESG Report (2021 report to be released later).

Climate Goals & Targets

Environmental Challenges

• COVID-19 pandemic and related government restrictions.

Mitigation Strategies

• Implemented changes to protect employees and communities (quarantining, testing, remote work, additional safety measures).

Supply Chain Management

Climate-Related Risks & Opportunities

Environmental Metrics

ESG Focus Areas

• Climate Change
• Environmental Stewardship

Environmental Achievements

• Not disclosed

Social Achievements

• Not disclosed

Governance Achievements

• Not disclosed

Climate Goals & Targets

Environmental Challenges

• Supply chain disruptions due to geopolitical conflict and inflation.
• Increased regulatory and compliance costs related to climate change.
• Heightened focus on ESG matters by investors.
• Potential for future impairments of oil and gas properties due to commodity price volatility.

Mitigation Strategies

• Using commodity derivative instruments to hedge price risk.
• Monitoring adherence to ESG reporting requirements and establishing goals for emission reductions.
• Continuously monitoring the availability of capital resources.

Supply Chain Management

Supplier Audits: Not disclosed

Responsible Procurement

• Not disclosed

Climate-Related Risks & Opportunities

Physical Risks

• Severe weather events

Transition Risks

• Regulatory changes
• Market shifts away from fossil fuels

Opportunities

• Not disclosed

Reporting Standards

Frameworks Used: TCFD

Certifications: Null

Third-party Assurance: Not disclosed

UN Sustainable Development Goals

• Not disclosed

Not disclosed

Sustainable Products & Innovation

• Not disclosed

Awards & Recognition

• Not disclosed