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Sustainability Policies

We Support Responsible Development
Environment & Emissions Policy 2024

Introduction

Africa Oil Corp (“Africa Oil”) recognizes that oil and gas activities may result in disturbance to the environment in its areas of operation and we aim to minimize this impact to the extent that it is within our control.

Human progress and economic demand drive the world’s growing energy needs and fossils fuels will continue to play an important part in meeting these needs. The provision of affordable and ever-cleaner energy is essential for tackling poverty and inequality, safeguarding the natural environment and promoting human prosperity. The provision of clean and affordable energy is a key element in meeting the United Nations Sustainable Development Goals.

Global action as set out in the Paris Agreement, and the overall shift towards other energy sources, presents the oil industry, and the wider world, with fundamental new challenges. Demand for oil and gas will require continued investment even under aggressive low-carbon scenarios. The challenge is how to meet the world’s demand for energy whilst minimizing impacts to the global environment.

Africa Oil is committed to operate as a responsible steward in compliance with the applicable environmental laws and regulations of the countries in which we operate, and we manage our activities based on good international industry practice, including the Performance Standards on Environmental and Social Sustainability of the International Finance Corporation. Where national law and good industry practice differ, we will follow the most stringent requirement.

Our Commitments

Operational Planning

  • We maintain an appropriate management system to implement this Policy, and measure and report on performance as part of a process of continuous improvement.
  • We identify the potential environmental risks and impacts of our activities and any that cannot be mitigated by design are managed and monitored via our management systems.
  • We obtain and maintain all the necessary permits and licenses for our activities.
  • We consult with our stakeholders on environmental and social issues that may affect them.
  • We investigate all environmental incidents, ensuring diligence in our response and provide corrective and preventative actions.
  • We develop and maintain emergency response procedures for the protection of our operating environment, the prevention of pollution, and the protection of workers, contractors and local communities.
  • We design and plan our operations so that adequate resources are available to meet closure requirements and restore operational sites to their previous land use capability in a timely manner in line with local legislative requirements.
  • Where we do not have operational control, we work with our Operating Partners to the extent permitted to ensure that activities are undertaken in a manner consistent with this Policy.
  • We include the consideration of climate change risks and opportunities into our strategy, planning and business decision-making. Including assessment of greenhouse gas emissions in the evaluation of investment opportunities and the business planning for the acquisition of additional assets.

Resource Management

  • We strive to minimize fresh water consumption at our assets and ensure responsible management and disposal of produced water , recycling or injecting wastewater where feasible.
  • We seek to avoid discharges of pollutants and waste to the natural environment. Where discharges cannot be avoided, we seek to minimize their volume and ensure that they meet applicable environmental standards as a minimum level of performance.
  • We strive to maximize operational efficiency, and monitor and minimize our water use, energy use and greenhouse gas and air emissions, setting appropriate and measurable objectives and targets that promote the efficient use and conservation of natural resources.

Biodiversity

  • We recognize that oil and gas activities may disturb the environments in which we operate, and result in direct, indirect and cumulative impacts on biodiversity over the short, medium and long run. Biodiversity is also critical to maintaining numerous ecosystem benefits on which the business and the societies in which we operate depend.
  • In recognition of the ecological and cultural benefits they provide, we will not conduct oil and gas exploration or development in UNESCO World Heritage sites, Strict Nature Reserves (International Union for Conservation of Nature Category 1a) or Wilderness Areas (IUCN Category 1b).
  • In order to preserve and protect biodiversity where we operate, we follow the mitigation hierarchy, giving priority to avoiding negative impacts. Where avoidance is not possible, we seek to minimize those impacts, and then remediate the impact through rehabilitation or restoration measures and, where appropriate, compensate for negative impacts through offsetting measures.
  • In our operations, we aim to achieve no net loss of biodiversity in natural habitats or a net positive impact in areas of critical habitats.
  • We integrate biodiversity risks into our corporate risk management framework and establish metrics to measure and monitor our impact.

Waste

  • We develop and implement appropriate procedures for the management and monitoring of our waste streams by applying the waste management hierarchy to our operations, preventing or reducing waste in the first instance, reusing waste that cannot be prevented, recycling what cannot be reused, recovering energy from waste that cannot be recycled and appropriately disposing of residual waste.

Greenhouse Gas Emissions

  • In order to contribute towards the goals of the Paris Agreement, our aim is to ensure that we integrate the monitoring management and reporting of greenhouse gas emissions into our activities, strategy and decision-making.
  • Where we are a non-Operator, we aim to work with our Operating Partners to minimise, and where possible eliminate, regular gas flaring in line with the World Bank “Zero Routine Flaring by 2030” initiative. We work to influence Operating Partners to minimise emissions, improve environmental performance and optimise production efficiency, as part of ongoing business planning and management and in line with host government policy, in both operations and design.
  • Where we are an Operator, we will build robust and realistic plans, directly assuming the goals of:
    − Reducing emissions to the extent commercially feasible over the life of each asset and seeking opportunities for improvement against the base case asset development plan.
    − Avoiding routine flaring and minimising non-routine flaring.
    − Ensuring effective operations and maintenance expenditure to support asset integrity and minimise leakages and venting.
    − Setting realistic and achievable emissions targets for each Operated Asset to drive emissions reductions and efficiency.
  • We will monitor, manage and report on our greenhouse gas emissions and climate-related risks and opportunities in line with good industry practice by:
    − Integrating responses to evolving climate-related information into our business strategy and the development of individual assets.
    − Undertaking an annual review of our portfolio to assess its resilience to potential climate change scenarios.
    − Developing a strategy to ensure Africa Oil retains a long term sustainable value proposition.
    − Developing performance reporting, in line with the recommendations of the Taskforce on Climate-Related Financial Disclosures and other key guidelines.

Monitoring and Reporting

  • In seeking to minimize the environmental impact of our business, we will establish relevant, quantifiable targets where these are relevant and appropriate.
  • We regularly review our objectives and targets and report our performance externally to our stakeholders in a timely and transparent manner.

Governance

Application

This Policy applies to all staff at Africa Oil and our Operated Assets, including our contractors and sub-contractors.

Where we do not have operational control, we encourage, support and work with our operating partners to the extent possible to act in a manner consistent with the commitments set out in this Policy.

This Policy will be reviewed on a regular basis to ensure that it continues to support and encourage a high standard of environmental performance on our projects.

Accountability

Africa Oil’s Chief Operating Officer has overall responsibility for the implementation and enforcement of this policy.

Senior leadership within Africa Oil and its subsidiaries are accountable for the implementation of, and adherence to, this Policy.

Health & Safety Policy 2024

Introduction

Africa Oil Corp. (“Africa Oil”) is committed to operating in a safe and responsible manner.

Our goal is to ensure that activities for which we are responsible cause no harm. We put the protection of people and property first and will meet or surpass the applicable health and safety laws and regulations of the countries in which we operate. We plan and manage our activities based on good international industry practice including the Performance Standards on Environmental and Social Sustainability of the International Finance Corporation. Where national law and good industry practice differ, we will follow the most stringent requirement.

Our Commitments

We apply high standards of practice through a process of continual improvement of our management system and adoption of international standards.

Our Health and Safety Philosophy

  • Work-related incidents, illnesses and injuries are preventable.
  • There is a safe and correct way of doing every task, however urgent or important.
  • All employees are responsible for their own actions and the workplace health and safety of their fellow workers.
  • Where work-related incidents, illnesses and injuries occur, we will investigate the root cause and take appropriate remedial action to prevent them from reoccurring.
  • We encourage open and honest communications.
  • We hold ourselves and our contractors accountable for compliance with our policies and procedures.
  • Should operational goals and safety considerations ever come into conflict, staff and contractors have a responsibility to choose safety over operational results, and our leadership will always support that choice. This includes the responsibility to stop a job whenever activities may conflict with this Policy.

Operational Planning

  • We will identify and manage risks on a proactive basis - foreseeable hazards must be identified, the associated risk assessed and, where reasonably practical, eliminated or minimized to an acceptable level.
  • We will develop an appropriate and effective management system to implement this Policy, including Occupational Health and Safety policies, procedures and guidelines where these are needed.
  • We will plan and be prepared for potential emergency situations and public health scenarios to ensure the health and safety of our employees and contractors.
  • In case of unexpected incidents or events, priority is always given to prevent harm to individuals, the environment, assets and reputation and to re-establish control.

Community Health, Safety & Security

  • We will prioritise the health, safety and security of local communities within our areas of operation. As appropriate, we will consult with them on any risks identified and proposed mitigations in line with good international practice.

Resources

  • All staff and contractors will be provided with a health and safety induction and the appropriate resources to complete their tasks efficiently and safely, with clear accountabilities and in accordance with our policies and procedures.

Monitoring and Reporting

  • We will measure our performance and strive for continuous improvement.
  • We regularly review our objectives and targets for improved occupational health and safety performance and report our performance externally to our stakeholders in a timely and transparent manner.
  • Our target is to achieve zero fatalities and zero accidents on all our operated and non-operated assets.

Governance

Application

This Policy applies to all staff at Africa Oil and our Operated Assets, including our contractors and sub-contractors.

Where we do not have operational control, we encourage, support and work with our operating partners to the extent possible to act in a manner consistent with the commitments set out in this Policy.

This Policy will be reviewed on a regular basis to ensure that it continues to support and encourage a high standard of health and safety performance on our projects.

Accountability

Africa Oil’s Chief Operating Officer has overall responsibility for the implementation and enforcement of this policy.

Senior leadership within Africa Oil and its subsidiaries are accountable for the implementation of, and adherence to, this Policy.

Community Relations & Human Rights Policy 2024

Introduction

Africa Oil Corp. (“Africa Oil”) is committed to operating in a socially responsible and transparent manner and values the human rights of its workers and local communities where we operate.

We recognize that oil and gas activities may result in disturbances to local communities in our areas of operation. Our goal is to ensure that activities for which we are responsible cause no harm to our people or local communities and that we build effective relationship with local communities and other stakeholders.

Our goal is to ensure that the activities for which we are responsible respect and protect human rights. We uphold the human rights of all individuals impacted by our operations including employees, contractors and external stakeholders. It is both a moral and business case for ensuring that human rights are upheld across all our assets.

We operate as responsible stewards in compliance with applicable laws and regulations of the countries in which we operate, and we manage our activities based on international human rights standards, which are understood to be those referred in the:

  • United Nations Global Compact
  • United Nations Guiding Principles on Business and Human Rights
  • Voluntary Principles on Security and Human Rights
  • Universal Declaration of Human Rights
  • International Covenant on Civil and Political Rights
  • International Covenant on Economic, Social and Cultural Rights
  • International Labour Organization (ILO) Fundamental Conventions
  • International Finance Corporation Performance Standards on Environmental and Social Sustainability

Where national law and good industry practice differ, we will follow the most stringent requirement.

Our Commitments

Stakeholder Engagement

Stakeholders are people or organizations which may be affected by or influence our activities, such as shareholders, employees, governments and local communities, charitable organizations, as well as our business partners, contractors, industry groups, non-governmental organizations, international organizations, academics and media.

  • We strive to be aware of and manage stakeholder issues, risks and opportunities by exchanging information and viewpoints in relation to our activities, sharing our operational plans, and listening to and considering stakeholders’ perspectives or concerns.
  • We will identify our stakeholders and engage with them throughout the life of our activities, at a local, national or international level as required.

Community Relations

  • We respect local cultures and community rights, and aim to preserve or develop these, where possible, through our activities.
  • We will consult with representatives of the local community and other stakeholders about activities undertaken in the areas where we operate on the basis of informed consultation and participation as a minimum.
  • We seek to build trust and mutually beneficial relationships with local communities.
  • We will implement a process for systematically receiving, investigating, responding to and closing out complaints or grievances from project-affected stakeholders in a timely, fair and consistent manner.
  • We seek to contribute to enhancing the overall social and economic wellbeing of local communities in the areas where we operate, by hiring local staff and participating in targeted social investment activities.

Human Rights

  • We respect internationally recognized human rights and do not to contribute to human rights abuses either directly or indirectly. Local management shall establish approaches to comply with this commitment.
  • We promote human rights by ensuring our employees, suppliers, business partners and contractors respect human rights and observe the highest standards of professional integrity as set out in the Company Code of Business Conduct.
  • We respect the human rights of our employees by providing a safe and sound working environment, and having an open dialogue with our employees, workers and external stakeholders who could potentially be affected by our actions either directly or indirectly. We pay keen attention to the most vulnerable who are at greater risk of human rights abuse.
  • We treat all employees and contractors fairly. We base employment on the principle of equal opportunity and fair treatment and we do not tolerate any discrimination, harassment or physical assault in the workplace.
  • We do not tolerate the use of forced or child labour in our operations or supply chains, and we use commercially reasonable means to ensure contractors and suppliers address these issues.
  • Employees have the freedom of association to join legal and non-prohibited organizations of their own choosing.
  • We recognize the importance of identifying and addressing any actual or potential human rights impacts which we may be involved directly or indirectly through activities or our business relationships. Consequently, we carry out due diligence prior to any new investment and encourage reporting of any perceived violations through our Whistleblower process which is available for both internal and external use in languages relevant to the countries in which we operate.

Implementation, Monitoring and Reporting

  • We will develop an appropriate management system to implement this Policy, through which social performance issues can be raised and addressed, and measure performance as part of a process of continuous improvement.
  • We will disclose our performance to stakeholders on a regular basis.

Governance

Application

This Policy applies to all staff at Africa Oil and our operated assets, including our contractors and sub-contractors.

Where we do not have operational control, we encourage, support and work with our operating partners to the extent possible to act in a manner consistent with the commitments set out in this Policy.

This Policy will be reviewed on a regular basis to ensure that it continues to support and encourage a high standard of social performance across our business activities.

Accountability

Africa Oil’s Chief Operating Officer has overall responsibility for the implementation and enforcement of this policy.

Senior leadership within Africa Oil and its subsidiaries are accountable for the implementation of, and adherence to, this Policy.

At country level, the VP Operations (or similar) has the ultimate responsibility for identifying and engaging with relevant stakeholders as well as communicating internal and external stakeholder concerns or proposals.