CSR

Vanoil’s Corporate Social Responsibility (CSR) encompasses the management of relationships with shareholders, employees, contractors and the communities in areas where it works, together with the impact on society and the environment. Vanoil recognises it has specific responsibilities in each of these areas and considers adherence to CSR values to be a key factor in its long-term success.

Vanoil today faces a wide range of both opportunities and challenges in the areas of CSR and Health Safety and Environment (HSE) responsibility and performance. This is particularly so given the nature of the industry and the geographic location of its operations, many of which are located in countries with both complex social, political and economic challenges and/or particular environmental sensitivities.

Vanoil’s objective is to minimize its impact on the environment and to support development in local communities. The Company recognizes the importance of engaging with local stakeholders and taking seriously their concerns regarding oil, gas and mineral development. Vanoil believes that by working closely with its host communities it is better enabled to meet the challenges facing it.

CSR involves listening and responding to the needs of everyone of a company’s stakeholders. Vanoil believes that building good relationships with employees, partners, host governments and communities, contractors and wider society is the best guarantee of long-term success. This is the essence of the Company’s approach to CSR.

Effective management of CSR allows Vanoil to identify potential risks and respond to areas of performance where we need to improve. More importantly we can identify opportunities where our ability to take on and manage risk can add value for shareholders. Effective CSR can help in attracting and retaining the best staff, make us a partner of choice with other national resource companies and other partners and create value for shareholders.

Vanoil is committed to the communities in which it works; the CSR agenda is to inspire, challenge and empower staff to make a positive contribution to local communities and the environment. Vanoil is committed to integrating CSR into everything it does from being a great place to work, investing in local communities, minimizing environmental impacts and working closely with partners and contractors.