Gulfsands does not operate any active projects given that its Block 26 PSC is currently in force majeure, but its focus on Environmental, Social and Governance (“ESG”) permeates all business development activities, as well as its Re-Entry Planning Strategy for Block 26 in Syria.
Its ambitions are the following:
Protecting the environment
Minimise the impact of its operations on the local environment
Minimise its greenhouse gas emissions
Explore its next steps in the energy transition
Sharing the benefits
Provide positive impact on the local community
Provide local economic opportunity
Build a rewarding and fair workplace
Deliver a zero-harm workplace
Setting high standards
Maintain good governance
Manage and mitigate risks
Meet regulatory and legal requirements
Gulfsands’ progress and performance on its strategic approach is overseen and driven by the Sustainability Committee, chaired by the Managing Director.
By adopting the UN’s Sustainable Development Goals (SDGs) and applying a consultative mapping process specific to Gulfsands business and culture, we have selected the SDGs that apply to the three sustainability pillars, Environmental, Social and Governance. As Gulfsands is in Force Majeure and currently unable to operate its Block 26 assets, the implementation of its sustainability plan captures the key elements of the go-forward strategy, including Syria Re-Entry Strategy and Plans and Asset Field Development Plans.