Kosmos Energy Publishes 2014 Corporate Responsibility Report
“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,”
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
Moroccofor 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 Saharato discuss with local people the potential impacts and benefits of hydrocarbon exploration
Collaborating with the Government of
Mauritaniato create and test a novel solution to an industry-wide waste management issue
Establishing an independent advisory council in
Ghanato help Kosmos better support the country’s needs as a developing economy; and
$3 million dollarsin social programs in Ghana, with much of that funding being used for vocational training.
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’