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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
HEALTH AND SAFETY
As an exploration company in the oil and gas industry, health and safety is very important to us, because projects can pose major safety risks from time to time.
Crown Energy is responsible for preventing accidents and other incidents and giving employees and contractors a safe and healthy work environment. In addition, our health and safety responsibility also extends to local populations directly and indirectly impacted by our operations.
The risks and uncertainties usually associated with oil and gas operations include fires, oil spills and other accidents. These risks may result in personal injuries, property damage and environmental damage. In addition to operational risks specific to the industry, there are also risks related to safety in a country or area, i.e. due to war and other turbulence.
The extent of operational risks depends on what phase an exploration and appraisal project is in. Crown Energy’s projects are in early phases and no activities are being conducted at this time in the licence areas which could directly cause personal injuries or fires. Depending on the progress of projects, this may change in the future. In such cases, Crown Energy will strive for the development of good procedures and their implementation in these projects.
Safety issues are largely governed in the PSAs and JOAs, which stipulate the responsibilities of each party. If health and safety issues are not governed in these agreements, Crown Energy's internal policies will apply. If Crown Energy's own policies are stricter than a country or region's own regulations, Crown Energy’s adopted policies will still apply.
The licence in Salah ad-Din, Iraq, is an example of an asset where the safety conditions have changed during the exploration period. Crown Energy has begun to resume plans to commence certain activities on site in Iraq. Crown Energy needs a financial and operational partner to enable the commencement of activities in the region. In collaboration with this partner, Crown Energy will choose development strategies for the region's assets, which in turn will determine which safety arrangements are made.