Afren

In 2006, we reported on the development and implementation of our Environment, Health, Safety and Social (EHSS) Management System and the related Security Management System. These systems were put to good effect in the appraisal drilling on the Okoro Setu field and resulted in excellent EHSS performance; no serious injuries, no oil spills and no security incidents were recorded during the drilling programme.

We have now developed an over-arching Corporate Responsibility policy which pulls together our commitments in the key areas of the environment, health and safety, social issues, business ethics and human resources. In each of these areas specific policies and procedures exist to support the achievement of our goals.

We are committed to continuing the development and implementation of our management systems across Afren as the business continues to grow and we seek to effectively manage the inherent risks. This is particularly true for the Okoro Setu project, Afren's first significant operating exposure. We are working closely with our contractors to identify and assess potential risks and to put in place the controls necessary to mitigate them.

We recognise the importance of engaging with local stakeholders and taking seriously their concerns regarding oil and gas development.

In line with our stated aim of working to improve the quality of life of host communities, we have conducted a social impact assessment of the Eastern Obolo coastal area adjacent to where the Okoro Setu development will take place. Working closely with our local partner, we aim to undertake sustainable local community projects that provide long-term benefits to host communities and their local environment.

Through a series of consultation meetings held between Afren and the Foundation a number of potential local development projects were identified. We have already begun to finance several initiatives via the Foundation and will be continuing this through the next phase of the project with the intent of funding medium and long term initiatives through the life of the field.