The SPEED/Sustainability Report outlines the Company's advancements in environmental, social and governance areas, highlighting the significant reduction in 2023 of the
In the CEO letter presenting the Report,
KEY SUSTAINABILITY HIGHLIGHTS
Strong Results in Emissions Reduction Plan
Through
Carbon intensity on the core Llanos 34 Block (
The improvement in the Llanos 34 Block, which supplies close to 7% of
Facilities mitigating methane emissions led to an additional 20,000 metric tons of CO2e reduction and a 9.9 MWp photovoltaic solar plant further decreased emissions by 5,000 metric tons of CO2e
Top Accomplishments in Sustainability
In 2023,
Recognized for the first time by
Obtained the ISO 45001:2018 occupational health and safety management certification for the first time and maintained the ISO 14001:2015 environmental management certification for the sixth consecutive year for the operations in
Received
Awarded the 'Hechos de Sostenibilidad' sustainability prize in the Decarbonization and Emissions Reduction category from the
Included in the Bloomberg Gender-Equality Index for the second consecutive year, showcasing
Joined the United Nations Global Compact and incorporated its principles into the Company strategy, culture, and daily activities
Joined the
Selected Sustainability Metrics
ZERO Employees Total Recordable Injury Rate (TRIR)
ZERO Employees Lost Time Injury Rate (LTIR)
ZERO environmental fines or sanctions in our operations
ZERO barrels of crude oil spilled per million barrels produced
36.2% reduction in water consumption vs 2022
82.1% of social investment focused in rural areas
76.7% of employment generated was local
100% of employees are shareholders
100% of employees have their variable remuneration tied to water and climate change KPIs
38.9% of employees are women
47% of new employees are women
1 Certified by the
GLOSSARY
boe - Barrels of oil equivalent
CO2e - Carbon dioxide equivalent, the sum of all GHG emissions
GHG - Greenhouse gases, mainly carbon dioxide and methane
MWp - Megawatts of peak capacity
WI - Working Interest
NOTICE
Additional information about
Rounding amounts and percentages: Certain amounts and percentages included in this press release have been rounded for ease of presentation. Percentage figures included in this press release have not in all cases been calculated on the basis of such rounded figures, but on the basis of such amounts prior to rounding. For this reason, certain percentage amounts in this press release may vary from those obtained by performing the same calculations using the figures in the financial statements. In addition, certain other amounts that appear in this press release may not sum due to rounding.
CAUTIONARY STATEMENTS RELEVANT TO FORWARD-LOOKING INFORMATION
This press release contains statements that constitute forward-looking statements. Many of the forward-looking statements contained in this press release can be identified by the use of forward-looking words such as ''anticipate,'' ''believe'', ''could,'' ''expect,'' ''should,'' ''plan,'' ''intend,'' ''will,'' ''estimate'' and ''potential,'' among others.
Forward-looking statements that appear in a number of places in this press release include, but are not limited to, statements regarding the intent, belief or current expectations, regarding various matters including NPV10 After Tax, our reserves, the estimated future revenues, capital expenditures, Adjusted EBITDA, free cash flows, expected production guidance and shareholder returns. Forward-looking statements are based on management's beliefs and assumptions, and on information currently available to the management. Such statements are subject to risks and uncertainties, and actual results may differ materially from those expressed or implied in the forward-looking statements due to various factors.
Forward-looking statements speak only as of the date they are made, and the Company does not undertake any obligation to update them in light of new information or future developments or to release publicly any revisions to these statements in order to reflect later events or circumstances or to reflect the occurrence of unanticipated events. For a discussion of the risks facing the Company which could affect whether these forward-looking statements are realized, see the Company's filings with the
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Investor
Shareholder Value Director
T: +562 2242 9600
ssteimel@geo-park.com
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T: +562 2242 9600
mbello@geo-park.com
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T: +55 21 99636 9658
dgully@geo-park.com
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