Effective engagement is important to managing the expectations and understanding the views, interests and concerns of all our stakeholders. It helps build the relationships required to help the Company achieve its objectives, such as negotiating land access, and gaining government permits and approvals. As a PNG oil and gas company, Oil Search recognises it manages a number of issues that are important to stakeholders.
To ensure Oil Search can maximise the benefits to the Company from responding proactively to stakeholder interests and concerns, Oil Search conducts regular engagement with all key stakeholders. These interactions and communications are targeted to meet their various needs and expectations. An overview of the engagement conducted in 2015, and the key social responsibility themes raised is summarised in the table below.
The results of on-going stakeholder engagement, peer benchmarking and media scanning captures an indication of our stakeholders’ view on the Company’s actions and performance as well as the issues facing the industry. Oil Search also participates in a number of social responsibility initiatives aimed at the oil and gas industry or particular cross-cutting issues such as human rights.
The themes that arise through this engagement and participation inform strategy setting, team and individual work-plans and key performance indicators. In order to be prepared for areas of change that may impact the Company in the medium term, Oil Search also draws on these sources to identify emerging issues, trends and risks. These are reported regularly to the Board HSS Committee and inform forward planning.
In 2015, the social responsibility team commenced a process of sharing stakeholder insights with the relevant business area owners to ensure they understand the nature of the issue and can consider how best to respond to it in their team and individual work-plans. This will continue in 2016, to support delivery of Oil Search’s forward social responsibility objectives.
The stakeholder themes identified also inform the content of the Company’s annual social responsibility reporting. For further information on social responsibility reporting and participation at Oil Search, see Reporting and Participation.
Engagement in 2015
- Shareholders and Investors
- Environmental, Social Governance (ESG) analysts
- Business partners, suppliers and contractors
- Non-government and industry organisations