CEO Foreword

Our 2019-2020 sustainability report outlines the progress Crescent Petroleum has made across our core sustainability goals as we continue on a journey begun in 2015. This report is published amid the COVID-19 pandemic, which has had a major impact on every part of the world. The loss of so many lives has been tragic, and the economic consequences of the crisis will likely be felt for some time to come.

We have spent the past decades building and cultivating resilience in our operations and in our staff, as well as in the communities where we operate. COVID-19 put all our efforts to the test, as it did those of every government, community, and company around the world. In these trying times we have seen the best in our people, as they worked collaboratively to ensure uninterrupted operations and continued to support the community as it faced the crisis.

This is a time when teamwork becomes paramount and when long-term planning proves its worth; a time when people and organisations test their mettle and when the ability to collaborate becomes central to helping others tackle the seemingly insurmountable challenges.

Over the past several years, we have focused on empowering our teams, both at our operations in the KRI and at our offices in Sharjah, with a view to enabling them to respond to unpredictable social, economic, and environmental risks. These efforts are anchored in good governance, valuing both internal and external relationships, strengthening our value chain, and championing leadership in our people, in addition to digitisation of processes. These steps have been key to identifying and mitigating risks and have reinforced the resilience exhibited during 2020.

In the following pages we outline the steps we have taken over the past two years to align our business strategy with our commitment to create lasting, positive social, economic, and environmental impact in the regions where we live and work. In the five years since we began our sustainability journey, we have progressed, learned, and made constant improvements. The sustainability journey has also helped us build resilience within our business.

At our core we believe that empowering our people and our communities to tackle some of the Middle East’s key energy challenges is not just good business, but also critical to our long-term success. We have worked to reinforce that spirit in everything we do. We regard ourselves as enablers who have leveraged our people and our know-how to help tackle some of the region’s key problems.

As the world grapples with the “new normal” we are committed to making a positive difference in the lives of people and our communities. This report informs and focuses on our sustainability efforts, especially as we tackle the COVID-19 challenges.

We look forward to celebrating Crescent Petroleum’s 50th anniversary in 2021 and aim to look back at this time with pride and to continue serving as active contributors to the sustainable recovery we must now all strive to deliver together.