The Company has formalized the processes aimed at methodically identifying hazards, assessing risks, and taking appropriate action to prevent and reduce them in order to establish uniform requirements for identifying, assessing, and minimizing HSE risks as well as personnel’s approach to managing them. Because of this, the company has been able to drastically lower the risk of severe equipment failures, industrial accidents, and other occurrences, as well as the effects these incidents have on the environment. The integrated risk management system of the company describes a standardized process for recognizing and evaluating risks, developing risk management strategies, and ensuring that these strategies are appropriately carried out and documented, including with regard to risks associated with environmentally sensitive areas where the company conducts business.

Oil Spill Response Plan

The Kazakhstan Central Research and Design Institute created the company’s oil spill response plan, which was then approved by the Ministry of Emergency Situations in Kazakhstan and announced alongside the Federal Marine and River Transport Agency of the Ministry of Transport and the Ministry of Energy of Kazakhstan. An overview of the company’s oil spill response plan was posted on Sinur-Oil LLP Shelf’s corporate website in August 2020.

The Plan accounts for various risk scenarios and forecasts the number of people and supplies needed by emergency response units in various scenarios. Additionally, the company set up expert units for responding to and containing oil spills and set up effective channels of contact with government emergency response agencies. The company has acquired specialized equipment that enables it to respond to potential oil spills in the Arctic and remove oil from ice. The Company regularly holds training sessions and extensive exercises at the Prirazlomnaya site with the aim of guaranteeing optimal coordination among its reaction team members in the event of an emergency. To safeguard the shoreline surrounding the town of Varandey, training exercises are conducted both ashore and on the ice-covered sea.

Climate change

Sinur-Oil LLP recognizes the extent and gravity of its operational consequences in accordance with the significance of environmental preservation, risk mitigation connected to climate change, and the sustainable use of natural resources. As a producer, our operations contribute to greenhouse gas (GHG) emissions, and we recognize that it is our responsibility to responsibly lessen our impact on the climate. Emissions reduction is a top priority for the company. We acknowledge that the production and exploration of hydrocarbons contribute significantly to greenhouse gas emissions, which is why we are committed to solving climate change. Reducing the impact of our operations on climate change remained one of Sinur-Oil LLP’s primary corporate social responsibility goals in 2023.