Page 13 - LatAmOil Week 26 2022

LatAmOil NEWS IN BRIEF LatAmOil

PIPELINES & TRANSPORT
Saipem announces sale of

FPSO Cidade de Vitoria to

BW Energy

Saipem and BW Energy have signed a Memo-
randum of Agreement (MoA) for the sale of the
FPSO Cidade de Vitoria, currently owned by
Saipem and operated for Petrobras in the Golf-
inho field offshore Brazil.
The sale of the FPSO is subject to the closing
of the acquisition by BW Energy of the 100%
operating working interest in the Golfinho field
from Petrobras expected to occur in the first
quarter 2023.
Under the MoA, BW Energy will pay Saipem the oil and gas industry in Colombia in terms periodical in-house and third-party inspections
$73mn of which $25mn is due at the Golfinho of suppling the increasing energy demands of to detect and repair leaks.
transaction closing, $13mn is due at FPSO take- Colombians while reducing carbon emissions, Developed a long-term strategy to implement
over and customs clearance, expected in 2023, exploring avenues for renewable energy gener- circular economy practices with the ambition to
and $35mn will be paid in 18 monthly instal- ation, fostering national energy self-sufficiency, divert more than 34% of total direct waste from
ments following the takeover. and catalyzing the growth and development of landfill and achieve a Zero Waste Certification (a
Considering the terms of the Golfinho Colombia’s economy and its people.” global initiative, in partnership with ICONTEC
transaction, the current lease and operate con- The move away from oil production in 2018 Colombia).
tract between Saipem and Petrobras, which has positioned Canacol to become a proactive Strengthened the protection of biodiversity
would have expired in February 2023, has been leader in Colombia’s energy transition and GHG in the Córdoba and Sucre regions by establish-
extended until the FPSO takeover, or June 2024, reduction initiatives. Our primary objective is to ing ten conservation agreements and seven
whichever comes first. generate value for all our stakeholders in a sus- community environmental projects with local
This agreement is in line with the assump- tainable, collaborative, responsible, respectful, stakeholders.
tions of the 2022-2025 strategic plan. and transparent way. We support our neigh- A Safe and Committed Team: Lost Time
Saipem, June 27 2022 boring communities through beneficial social Injury Frequency Rate (LTIFR: 0.9) for employ-
investment projects that improve public and ees and contractors was 72% better than the tar-
community infrastructure as well as provide get (3.16).
POLICY access to educational opportunities. Canacol’s Increased diversity and inclusiveness in the
actions are based on our corporate values, strat- work environment including: The establish-
Canacol Energy presents egies, and objectives. Within our focus on sus- ment of a Diversity and Inclusion Corporate
tainability leadership, continuous improvement Policy and Committee. The implementation of
2021 ESG report has become a fundamental axis of effort. a Gender Equality Management System to iden-
The methodologies and standards that Can-
tify and eliminate gender gaps. Women make up
Canacol Energy is pleased to provide the follow- acol uses include: GRI Oil & Gas G4 Sector 35% of the total workforce, 8% above the average
ing information concerning its ESG Strategy & Disclosures, Sustainability Accounting Stand- of Colombia’s female workforce in the petroleum
2021 ESG Integrated Report. ards Board (SASB), Carbon Disclosure Project industry. Women represent 27% of top manage-
Charle Gamba, President and CEO of the (CDP), Task Force on Climate-Related Financial ment positions.
Corporation, stated: “As the world navigates the Disclosures (TCFD), Corporate Sustainability A Transparent and Ethical Business: Formal-
complexities of climate change and other polit- Assessment S&P Global, and the United Nations ised a Share Ownership Policy and specific ESG
ical and economic challenges, we continue to Sustainable Development Goals (SDGs). related KPIs linked to short-term and long-term
believe in the vital role natural gas has to play The 2021 ESG highlights for Canacol include compensation of the executive team. Updated
in displacing more carbon intensive energy the following. the company-wide ethics and compliance
options. A Cleaner Energy Future: Reported scope 1 system including a focus on anti-competitive
Specifically, in Colombia, we maintain our and 2 GHG emission intensities that are more practices.
commitment to contribute to the country’s goal than 50% lower on average than gas focused Guided by Sustainable Development: Cre-
of 51% emissions reduction by 2030. As indi- peers (and more than 80% lower on average than ated opportunities through local employment
cated in our ESG Report, Canacol currently oil focused peers) in North and South America. and development substantially exceeding reg-
leads the industry as one of the cleanest oil and Increased solar energy usage by 32% with the ulatory requirements. 60% of Canacol’s skilled
gas producers in both Colombia and North installation of photovoltaic systems in 100% of labor and 100% of Canacol’s unskilled labor
America with Scope 1 and 2 GHG emissions new well sites and at the offices of three gathering were hired locally. Canacol purchased 95.1%
that are 80% lower than our oil producing peers facilities. of all goods and services locally, regionally, and
and 50% lower than our gas producing peers, In our continuous commitment to identify nationally, representing an economic stimulus
on average. Our ambition is to continue to lead and decrease fugitive emissions, we performed of $151mn.

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