Managing partnerships and contractors, fulfilling statutory and social obligations, and managing a considerable expenditure profile exposes Challenger Energy to a wide variety of risks. The application of our own processes and systems to identify, mitigate and contain those risks is fundamental to the operation and further development of the Company.
Successful value and wealth creation, especially within the industry we operate could be compromised without an effective shared value model that reinforces Challenger Energy’s ‘licence-to-operate’. But equally, operating in a socially responsible way should not compromise the purpose and nature of the business – to successfully find and develop commercial volumes of hydrocarbons – as this is the value upon which the enterprise is founded.
Challenger Energy are subject to strict regulations in all jurisdictions of operations which cover all aspects of the Company’s exploration and development activities, including Health, Safety, Environment & Security (HSE&S). As an absolute minimum, Challenger Energy seeks to comply with all such regulations in the countries in which we operate. Where Challenger Energy has adopted stricter codes of practice in relation to any aspects of HSE&S management, then it is these standards that will be applied.
Challenger Energy has established a Risk Committee at Board level with a wide remit established in its charter to understand and oversee the management of risk across the Company’s operations. In addition, the company has an HSE&S committee which comprises senior executives and representatives from operations which meets regularly to ensure compliance, standards and currency of processes, systems and procedures. Challenger Energy is committed to providing a healthy, safe and secure workplace for all employees, consultants, contractors, service providers and visitors across all facets of our operations. Pursuit of our commercial objectives should never be at the expense of harm to people or the environment. We have established appropriate policies, procedures and management systems for the current stage of Challenger Energy’s development and to take us forward during the next stage of the Company development, and the management team regularly re-examine for them currency, relevance and applicability in order to positively reaffirm their context within Challenger Energy. We are seeking to ensure accountability to the highest international standards by focussing on visible leadership and integration of health, safety, environment and security into all business practices. There is an emphasis on staff training to ensure heightened awareness of risk, and we strive to ensure that all contractors also meet all necessary standards.
Challenger Energy acknowledges that its activities impact both the local and global environment in which we work and we are working towards methods to measure that impact and increase our efficiency to mitigate that impact.
Challenger Energy also acknowledges the value created by the work of the Company for our owners , the employees, communities, and the countries in which we operate and therefore have an obligation to maximising recovery from producing fields and to performing our operations to the safest and highest standards through close collaborations with communities, stakeholders and governments whilst promoting diversity and ethical working.
The UN SDGs – United Nations Sustainability Guidelines guides our approach with this global reporting index providing standardised nomenclature for our reporting.
Challenger Energy’s licence-to-operate is to a large extent dependent on our ability to work closely with the people living in the communities in which we operate. Challenger Energy is determined to act as a good corporate citizen at all times and seeks to pursue a partnership with local communities – we believe that this will be a true source of enduring value for the Company. Despite the international and complex nature of the energy industry, Challenger Energy is committed to wherever practicable using local suppliers and employing local skills or workers wherever possible. To the extent that we import expertise, we would seek to train national employees so as to bring those skills permanently into the local market over time.
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