Risk Management Policy

General Policy Statement

Cooper Energy is an oil and gas exploration and production company. Our right to operate and our reputation in the oil and gas industry wholly depends upon our adherence to the prevailing laws, regulations and technical and societal standards.

In addition to the prevailing laws, regulations and technical and societal standards, Cooper Energy’s values state that we have a focussed obligation to “control and reduce costs and … manage the risks inherent to our business”. This value coupled with individual leadership and accountability empowers us all to live and promote our Risk Management Policy.

We are committed to ensuring that we plan and perform our business activities to ensure that the risks inherent in our business are identified and then avoided or kept as low as reasonably practicable.

We will strive to identify and manage the risks inherent in our business and we will continuously seek to improve our risk management performance so that we can protect our people, the environment, our assets and our reputation.

Policy Strategies

To ensure the implementation of this policy we will:

  • Comply with all prevailing laws, regulations and standards whilst aspiring to higher standards.

  • Ensure adequate risk management is undertaken for all our business activities.

  • Delay or stop activities where risk identification has not been undertaken.

  • Ensure that all our activities are conducted in a safe and efficient manner and risks are avoided or are kept as low as reasonably practicable.

  • Apply best oil field standards where laws and regulations do not exist.

  • Ensure that all staff and contractors are trained and suitably supervised so that they can perform their jobs.

  • Ensure that procedures are in place to identify, assess and control workplace hazards.

  • Use our influence to promote this policy in non-operated ventures.

  • Promote our values and culture so that all employees will act in accordance with this policy.

Application

The Managing Director is accountable to the Board of Directors for ensuring that this policy is implemented. This policy will reviewed on a yearly basis.

This Policy applies to all staff, contractors and joint venturers engaged in activities under Cooper Energy’s operational control.

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