DALLAS--(BUSINESS WIRE)--Kosmos Energy (NYSE: KOS) announced today the publication of its third annual Corporate Responsibility Report. The report reviews the company’s safety, environmental, and social performance and illustrates Kosmos’ commitment to transparency and its dedication to operating in accordance with its Business Principles.
“At Kosmos, we recognize that delivering lasting benefits to local communities and developing mutual trust with host governments is just as important as operating competently below the ground. That is why we help our host countries plan for future success in managing hydrocarbon resources, and invest in building the capacity needed to support sustainable local petroleum sectors. Our aim is to conduct our operations in a manner that creates widely shared economic opportunity,” said Andrew G. Inglis, chairman and chief executive officer.
By disclosing performance data, payments made to host governments, and real-life examples from Kosmos’ operations around the world, the report marks the company’s progress in promoting transparency, safety, environmental sustainability, human rights, and stakeholder engagement.
Key initiatives described in the report include:
- Disclosing payments made to host governments at the project level, as specified in the new European Union Accounting Directive, an initiative that aims to improve corporate accounting practices and transparency. Kosmos believes this type of disclosure is beneficial to investors, civil society, and local communities, and reflects evolving international expectations. It complements Kosmos’ existing practice of making its petroleum contracts publicly available on the company’s website.
- Facilitating workshops in Morocco for key government agencies to support adoption of best practices in natural resource management, transparency, and stakeholder consultation
- Completing the oil and gas industry’s first social impact assessment, as well as broader stakeholder outreach, in Western Sahara to discuss with local people the potential impacts and benefits of hydrocarbon exploration
- Collaborating with the Government of Mauritania to create and test a novel solution to an industry-wide waste management issue
- Establishing an independent advisory council in Ghana to help Kosmos better support the country’s needs as a developing economy; and
- Investing nearly $3 million dollars in social programs in Ghana, with much of that funding being used for vocational training.
About Kosmos Energy
Kosmos Energy is a leading independent oil and gas exploration and production company focused on frontier and emerging areas along the Atlantic Margin. Our assets include existing production and other major development projects offshore Ghana, as well as exploration licenses with significant hydrocarbon potential offshore Ireland, Mauritania, Morocco, Portugal, Senegal, Suriname, and Western Sahara. As an ethical and transparent company, Kosmos is committed to doing things the right way. The company’s Business Principles articulate our commitment to transparency, ethics, human rights, safety and the environment. Read more about this commitment in the Kosmos 2014 Corporate Responsibility Report. Kosmos is listed on the New York Stock Exchange and is traded under the ticker symbol KOS. For additional information, visit www.kosmosenergy.com.
This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. All statements, other than statements of historical facts, included in this press release that address activities, events or developments that Kosmos expects, believes or anticipates will or may occur in the future are forward-looking statements. Kosmos’ estimates and forward-looking statements are mainly based on its current expectations and estimates of future events and trends, which affect or may affect its businesses and operations. Although Kosmos believes that these estimates and forward-looking statements are based upon reasonable assumptions, they are subject to several risks and uncertainties and are made in light of information currently available to Kosmos. When used in this press release, the words “anticipate,” “believe,” “intend,” “expect,” “plan,” “will” or other similar words are intended to identify forward-looking statements. Such statements are subject to a number of assumptions, risks and uncertainties, many of which are beyond the control of Kosmos, which may cause actual results to differ materially from those implied or expressed by the forward-looking statements. Further information on such assumptions, risks and uncertainties is available in Kosmos’ Securities and Exchange Commission (“SEC”) filings. Kosmos undertakes no obligation and does not intend to update or correct these forward-looking statements to reflect events or circumstances occurring after the date of this press release, except as required by applicable law. You are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this press release. All forward-looking statements are qualified in their entirety by this cautionary statement.