Social

Natural resources, utilised in the right way, can be a huge benefit to the quality of life in host countries. Genel aims to ensure that this is the case. Social investment and community projects in the KRI are an integral part of Genel Energy’s corporate strategy. Since its establishment, Genel has continually recognised its responsibilities and implemented social development programmes based on a tri-partite approach, working jointly with the local communities and government.

We want to be known as a company that cares, that lives our values, listens to the communities affected by our activities and plays an appropriate role in meeting their developmental aspirations. Specifically, we want to be able to build local capacity and create local job opportunities, both with Genel and through creating a local supply chain with highly skilled opportunities.

We partner with and invest in communities close to our operations to achieve mutual long-term benefits, and help local people develop the skills to thrive and play a part as we work with them to unlock the potential of their natural resources.

In line with these efforts, Genel established a new Corporate Social Responsibility (CSR) Policy based on the ISO26000 Guidance on Social Responsibility to help manage regional community expectations and the broader internationally accepted scope of CSR associated with labour practices, human rights and the environment. Our CSR strategy emphasises meeting the immediate needs of host communities, with the aim of producing tangible and sustainable impacts that improve quality of lives and enable greater long-term capabilities. In order to ensure the maximum economic benefit to the local area, Genel prioritises business opportunities with what we designate as ‘community-centred companies’ (3Cs). 3Cs are local companies that are 100% owned by local shareholders. The 3C company’s operating address is verified as part of the official corporate registration certification process.

Our engagement strategy ensures that we identify all stakeholders, collect demographic data to understand local culture and minimise or mitigate possible negative impacts. Our CSR initiatives are developed and guided by the results of these social assessments, through which the CSR team identifies local needs and project lists are created. The design and delivery of our CSR projects undergo multiple key phases. We begin with a needs-based assessment and local community consultation. The projects Genel sponsors in the KRI are developed after intensive talks with local communities, authorities and the Ministry of Natural Resources (“MNR”). It is through community engagement that Genel identified the most urgent needs and has accordingly made a commitment to concentrate on key areas including economic development, community health, and education.

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Leading Asset Integrity Strategy

At Taq Taq, health and safety management has implemented an Asset Integrity Management Plan to maintain the assets in a fit-for-service condition by means for inspection and condition monitoring activities. The facility utilises a Risk-Based Inspection (‘RBI’) approach, meaning that it focuses on attention to the equipment and associated mechanisms representing the most risk to the facility. RBI represents the next generation of inspection approaches and interval/due date setting, recognising that the goal of inspection is the safety and reliability of operating facilities.