Forza Petroleum Limited
Climate Impact & Sustainability Data (2015, 2018, 2022)
Reporting Period: 2015
Environmental Metrics
ESG Focus Areas
- Social Responsibility
- Community Engagement
- Human Rights
Social Achievements
- Continued community outreach program treating over 1,600 patients.
- Continued scholarship program for eight disadvantaged children.
- Undertook village infrastructure projects (water wells, storage, distribution system, community hall, school infrastructure).
- Achieved 83% local national workforce among Oryx Petroleum and its subcontractors.
- Paid $950,000 in land compensation.
Climate Goals & Targets
Short-term Goals:
- Achieve gross (100%) production of 10,000 bbl/d from Hawler license area by year-end 2016.
Environmental Challenges
- Precipitous decline in crude oil prices.
- Ongoing crisis in northern Iraq and Syria, disrupting local markets.
- Reservoir management issues at Demir Dagh field, limiting cash flow and access to capital.
- Higher than anticipated water production at Demir Dagh field.
- Regional security developments impacting operations at Banan and Ain Al Safra fields.
- Political instability in Iraq.
Mitigation Strategies
- Curtailed capital expenditures and reduced staffing levels.
- Secured marketing arrangement for crude oil export via truck to the Turkish coast.
- Restructured contingent consideration obligations.
- Strategic transaction with Zeg Oil & Gas for investment and development of Zey Gawra field.
- Implemented re-organisation to reduce costs.
- Commenced pipeline exports from Demir Dagh field.
Supply Chain Management
Responsible Procurement
- Identifying and using local service providers and suppliers.
Climate-Related Risks & Opportunities
Reporting Period: 2018
Environmental Metrics
ESG Focus Areas
- Community Health Services
- Scholarship Program
- School Supplies
- Infrastructure Projects
- Local Employment
- Land Compensation
Social Achievements
- Continued community health services, treating over 7,500 patients.
- Provided scholarships to 13 children (8 from conflict zones, 5 from Hawler license area communities).
- Supplied 3,000 school bags with stationary to schools.
- Undertook village infrastructure projects (town halls, school cabins, road renovation).
- Achieved 60% local national workforce in Kurdistan, with 30% from Hawler license area communities.
- Paid approximately $713,000 in land compensation.
Climate Goals & Targets
Medium-term Goals:
- Complete environmental and social impact assessment and prepare for exploration drilling in AGC Central license area in 2020.
Short-term Goals:
- Further evaluate the potential of all key fields and reservoirs in Hawler license area and further increase production and operating funds flow.
Environmental Challenges
- Unsuccessful attempt to install a pump and complete the Demir Dagh-8 well as a producer.
Mitigation Strategies
- Further efforts planned in 2019 to complete Demir Dagh-8 well.
Supply Chain Management
Responsible Procurement
- Using local service providers and suppliers.
Climate-Related Risks & Opportunities
Reporting Period: 2022
Environmental Metrics
Environmental Achievements
- Revised master Environmental Impact Assessment completed and approved by government
- Complete key CSR projects
Social Achievements
- Construction of the Tulaband-Kulabor-Wardak road and schools in Tarash Village and Ali Mala Dawood Village
Governance Achievements
- Annual performance evaluation of the Board and its Committees
- Detailed charters to enable the Board to function independently of management
Climate Goals & Targets
Environmental Challenges
- Procurement issues delaying the commissioning of the West Hawler and South Hawler Gathering Systems
- Certain existing and new wells underperformed risked production targets
- Higher than expected operating expenditure and lower production
Mitigation Strategies
- Continued focus on safety resulting in only one recordable incident and no lost time injuries in 2022
- Aggressive work program execution