ESG

ESG

Environmental stewardship

We are committed to delivering energy, responsibly.


We support the goals of the Paris Agreement and the net zero emissions by 2050 targets set by the UK Government and the European Commission. We recognise the combined challenge of meeting increasing energy needs driven by a growing global population and the urgent need to reduce global carbon emissions. As such, we aim to take an active role in reducing the carbon footprint from our activities as we develop as a company and to support the energy transition through playing an active role at a company and industry level to promote best practice in environmental stewardship.

We also support the UN Sustainable Development Energy Goal and plan to develop our business so that we have a sustainable strategy as an oil company providing safe and responsible energy at a low cost with low emissions.

Accordingly, we are committed to:

• supporting the energy transition through playing an active role to promote best practice in environmental stewardship;
• pursuing a strategy of delivering low Scope 1 and Scope 2 emissions per barrel, to minimise carbon intensity of operations (incl. no routine flaring) and transparent annual disclosure of GHG emissions;
• prioritising renewable energy sources in the powering of operated and non-operated platforms where possible;
• using an internal carbon price for investment decisions; and
• being net zero by 2050 with an earlier target date to be set dependent on the profile of the assets acquired

Following the acquisition of oil and gas assets, we shall issue an annual sustainability statement with transparent disclosures of key ESG data.

Governance

We are committed to:

  • maintaining the management team’s core principles of working with integrity, equality and transparency;
  • upholding high standards of corporate governance guaranteeing robust disclosure, transparency and engagement with all stakeholders;
  • building an organisation based on the principles of diversity and inclusion, creating equal opportunities for all; and
  • we have appointed leading industry advisers to guide us on key governance criteria, including remuneration, ABC and sustainability (incl. ESG performance)

Societal contribution

  • We will identify impactful community programmes to be funded as part of the longer-term corporate social investment strategy

Corporate Responsibility