Sustainability Improvement Plan

PICO Cheiron Group is currently working through a transformational change program to improve our capability and effectiveness in competing both in the Egyptian and in the international oil and gas arenas. As part of this change program, we are enhancing our Sustainability agenda by designing and implementing a range of actions that will benefit both the Company and the realities in which we operate.

Given the limited historic capabilities in this area in the Company we are relying on the helpful advice and interventions from the EBRD and IFC and the advice of experienced international consultants and newly recruited Joint Operating Company General Managers.

The following policy statements set out our intentions in driving the business forward.

PICO Cheiron Group Sustainability Policy

We set high standards for ethical behavior and conduct all our business with integrity. We respect and protect fundamental human, indigenous and labor rights. We value our personnel, those of our contractors and the communities in which we operate.

We seek to minimize and mitigate any negative risk or impact from our operations on people, air, water, land and biodiversity. We identify emerging issues and associated potential risks that may affect our business and develop clear strategies to avoid, mitigate or manage such impacts.

We communicate with internal and external stakeholders to appreciate concerns, develop strategies to tackle issues, and foster relationships based upon trust and mutual respect. We engage actively with our host communities and seek broad-based support for our activities and ensure that neighboring communities benefit from our presence on an enduring basis.

PICO International Petroleum (PIP) and its JOCs are committed to embracing Sustainability as the way we go about our business – respecting people, their safety and the environment. PICO/Cheiron recognizes that the long-term resilience and success of our business is dependent upon successfully addressing sustainability issues and continually improving our performance.

We have embarked upon a Sustainability Improvement program to enhance the alignment of our existing policies, procedures, processes and management systems with good international industry practices for responsible management in the following areas:

  • Business Ethics and Conduct
  • Respect for Human, Labour and Indigenous Rights
  • Respect in the Workplace
  • Safeguarding Occupational and Community Health and Safety
  • Corporate Responsibility towards Local Communities and Stakeholders
  • Protecting the Environment
  • Conserving Biodiversity