Community/Social Responsibility
Syncoil’s long-term business success is hinged on our ability to develop an enduring community relationship in the regions we operate. These relationships are vital for sustaining development and production after acquiring oil & gas fields.
We believe in early involvement of the host community to understand their needs and promote good inter-relationship between all parties. Thus, the development of MOU with the communities is a key policy in our community social responsibility (community & social sustainability).
All our activities shall be carried out in such a manner that:
- Preserves the Health, Safety and Security of members of the host community.
- Ensures no negative impact on the host environment. Where zero negative impact is not attainable, we ensure that we consciously deploy strategies that work towards reducing these impacts until they are negligible.
- Preserves the environment from pollution and waste (no environmental pollution/damage); and if environmental damages occurs, rectifies it immediately and takes adequate steps to prevent reoccurrence.
Community participation in the form of local labour is top priority; at least 10% of shareholders will come from the host community and a certain percentages of profit will be utilized for community development projects chosen from amongst the development projects identified by the community.
