Copyright © Crown Energy AB (publ)
Asset Dev & Mgmt
Further financial information
Risks and risk management
AGM 15 June 2022
Extra general meeting
Articles of association
Board of Directors
Internal control and risk management
Transparancy and ethics
Corporate social responsibility
Health and safety
Crown Energy strives to minimise harmful footprints in the implementation of our operations. Where possible, we will prevent, or otherwise substantially minimise, reduce or remediate environmental damage resulting from our operations.
All of Crown Energy's licences are in the early stages of a normal exploration and production life cycle. Given that Crown Energy does not currently engage in any oil and gas production, the environmental risks normally associated with the oil and gas industry are limited. However, the activities conducted in the exploration and appraisal stage can result in a negative environmental impact as well, such as when conducting seismic surveys and test drilling. This type of activity may impact both flora and fauna. The environmental responsibilities of Crown Energy's operations are mainly governed by existing Production Sharing Agreements, both directly (where we are operators) and indirectly (where we are not operators).
The environmental requirements of the Production Sharing Agreement for actions such as preparatory environmental impact studies, drilling and remediation of areas are often based on the environmental legislation and oil production laws of the respective country, and, as mentioned before, most countries currently have strong environmental legislation and strict environmental requirements. Environmental impact assessments (EIAs) serve as an example of actions to minimise a potential negative environmental impact. These EIAs are conducted prior to the commencement of large-scale activities in the licence area, such as prior to seismic surveys and test drilling. EIAs are often required by the Production Sharing Agreement.