oil field exploration

Corporate Governance

Efficient corporate governance is one of the crucial drivers for improvement of the company competitiveness. Development of the company is impossible without an efficient structure in place that regulates the relations between the board of directors, the executive board and the shareholders, without investors being sure that the company’s management spends their funds in a reasonable manner to achieve capitalization growth. 

Environment Protection 

The company aims to take all possible measures to preserve the environment and rationally use the natural resources at its fields and license areas. It adopted an Environmental Policy in 2009 and since then has been improving its implementation and increasing environmental protection spending every year. 

Environmental monitoring: The refinery is implementing a corporate program of environmental protection measures and activity monitoring, which includes the following: · Careful use of indigenous peoples’ territories · Improving waste management systems · Careful monitoring of emissions, soil quality, groundwater, and surface water on the territory of the company's operations · Other measures aimed at protecting the environment In addition, in highly sensitive environmental areas, the Group studies and protects the habitats of endangered animals, birds, and plants.

Reducing Greenhouse Gas Emissions

Our company priorities in the field of Environmental Safety is reducing greenhouse gas emissions produced by flaring associated gas. The refinery major goal is to increase its level of associated gas utilization to 85%. 

Every year, our refinery launches new compressor units, increasing the volume of re-injected associated gas. The cycling process not only helps to reduce greenhouse gas emissions, but also allows saving methane for future use, thus being an example of rational resource use.

Protecting Water Resources 

The refinery strives to protect both surface and subsurface water resources and minimize its impact on water resources at all stages of exploration and production. Its efforts include constructing sewerage networks at its fields, as well as installing modern sewage treatment plants for domestic wastewater. In addition, the refinery conducts regular monitoring of the chemical composition of wastewater, soil, and groundwater at historically contaminated territories.

Waste Management 

The refinery operations create various kinds of industrial and household waste, and the Group applies maximum efforts for its effective management. It has installed systems for thermal destruction of oil sludge and household waste. Furthermore, the refinery has built and operates a solid waste landfill, which is used free of charge by the local villagers.