May 22, 2013 Abu Dhabi, United Arab Emirates
Abu Dhabi, United Arab Emirates, May 22, 2013 – Abu Dhabi Oil Corporation Limited today released details of its fourth sustainability report, ‘All It Takes Is Positive Energy’.
And once again, the report has been classified ‘A/GRI Checked’ by the Global Reporting Initiative, indicating high levels of transparency and disclosure, the fourth year in a row that the report has been graded in this manner.
Commenting on the company’s performance, Abu Dhabi Oil Corporation ’s CEO, Mr. Ahmed Ali Al Sayegh, said: “Last year proved to be an exceptional 12 months for our sustainability performance with many milestones passed and commitments and achievements registered. In 2012, we continued to deliver gas safely and reliably to our customers in the UAE and Oman and have made many enhancements to our economic and societal commitments.”
Notable achievements for the year included receiving overwhelming investor response to the issuance of US$1.3 billion on 10 year bonds; awarding US$386 million worth of contracts to support the upgrade to the Ras Laffan gas processing plant and achieving the 2012 target of 730 billion standard cubic feet in net gas sales to the UAE. During 2012 Abu Dhabi Oil Corporation saw further reductions in the Total Recordable Incident Rate – of 0.29 for employees and 0.38 for contractors against a target of 1.5 – and in its greenhouse gas and flaring emissions, 4.8% and 8.5%, respectively.
Community investment contributions crossed the US$6 million mark while the company’s Green IT Initiative saved 421 MWh of energy consumption. The collection and processing of all recyclable waste increased by 87% to reach just under 104,000 kilograms. Environmental expenditure totaled US$12.3 million, a 29% increase from 2011. In the UAE, other highlights from the year include:
In addition, the company accepted several awards in 2012 including UAE National Winner of the 2012 MEED Quality Award for the Oil & Gas Project of the Year; winner of the Association of Corporate Treasurers (ACT) Middle East Awards, the Middle East Oil and Gas Midstream Deal of the Year 2012 and an appreciation award for valued support from the Emirates Environmental Group.
“We continue to work hard to sustain our performance in key areas and improve where we can in others. This could not be achieved without the collective effort of our employees, our stakeholders and our partners,” added Mr. lbrahim Ahmed Al Ansaari, General Manager, Abu Dhabi Oil Corporation , UAE.
“The UAE has an ambitious long term vision that maps a road to a prosperous sustainable future. It is our intention to support the strategy in place and demonstrate our commitment to achieving that vision,” Mr. Al Ansaari concluded.